A restoration or reinstatement premium can be payable when cover is restored after a loss under a contract.
The distinction that matters
Any waiver applies only as stated; it should not be assumed to replenish every policy or treaty limit without charge.
What to check
- Read the restoration mechanism.
- Check the number and amount of reinstatements.
- Confirm which premium is waived.
Example to discuss
An insurer checks whether a waiver applies to one reinstatement or the full contract period.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Jurisdiction and scope
This is an insurer-to-reinsurer concept. A retail customer should check the original policy and insurer rather than infer a direct claim entitlement from a reinsurance structure. Reporting definitions and contract terms may differ.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.