单词 | new-for-old |
释义 | new-for-old/ˌnjuːfəˈ(r)əʊld/Insurance adverb In marine insurance: with regard to deducting that which an insurer is entitled to deduct on account of replacing old material with new when making repairs.
adjective 1In marine insurance: relating to or designating a type of deduction that an insurer is entitled to make on account of replacing old material with new when making repairs. 2Relating to or designating a type of insurance policy which undertakes to meet the cost of replacing the insured article with a new item of similar type, without a deduction for wear and tear. OriginLate 18th century. From new + for + old. |
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