REPLACEMENT VALUE CONCEPT Definition

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REPLACEMENT VALUE CONCEPT, in insurance, is loss coverage for assets at the cost required to purchase like assets at market value. The replacement value concept eliminates the often troublesome factor of used or depreciated value when claims for losses are adjusted.

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CURRENT CAPITAL see WORKING CAPITAL.

OTHER LONG-TERM LIABILITIES are any other non-current liabilities, including subordinated debt, and liability reserves.

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