Sports Insurance Glossary : Letter R

Rain Insurance (Cancellation Insurance) - Insurance protection against loss due to rain, hail, snow or sleet, which causes cancellation or reduced earnings of an outdoor event.

Rate - A charge per unit in determining insurance premiums.

Reinstatement - The restoration of a lapsed insurance policy to its original provision, being in full force and effect.

Retention - The net amount of risk retained by an insurance company for its own account or that of specified others, and not reinsured.