Preferred Risk Policy (PRP) (PRP)
Banking
A policy that offers fixed combinations of building/contents coverage or contents-only coverage at modest, fixed premiums. The PRP generally is available for property located in B, C, and X Zones in Regular Program Communities that meets eligibility requirements based on the property’s flood loss history.
- — Dictionary of Banking Terms and Phrases retrieved 2014-05-16
Flood Insurance
A policy that offers fixed combinations of building/contents coverage or contents-only coverage at modest, fixed premiums. The PRP is available for property located in B, C, and X zones in Regular Program communities that meet eligibility requirements based on the property's flood loss history.
- — National Flood Insurance Glossary retrieved 2014-05-16
Personal Finance
A policy that offers fixed combinations of building/contents coverage or contents-only coverage at modest, fixed premiums. The PRP generally is available for property located in B, C, and X Zones in Regular Program Communities that meets eligibility requirements based on the property’s flood loss history.
- — Pocket Cents Glossary retrieved 2014-05-16