Definition and Citations:
In INSURANCE, a loss where the covered PERIL is the PROXIMATE CAUSE of damage. PROPERTY AND CASUALTY INSURANCE policies often limit protection to direct loss rather than direct loss and CONSEQUENTIAL LOSS.
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In INSURANCE, a loss where the covered PERIL is the PROXIMATE CAUSE of damage. PROPERTY AND CASUALTY INSURANCE policies often limit protection to direct loss rather than direct loss and CONSEQUENTIAL LOSS.