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Assumption Reinsurance |
Also found in: Wikipedia | 0.01 sec. |
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Assumption Reinsurance A form of reinsurance in which an insurer simply takes the place of another insurer. That is, Insurance Company B assumes some or all of the policies previously serviced by Insurance Company A. Assumption reinsurance is rare compared to reinsurance in which the first insurance company remains liable for claims, and the reinsurer only pays in the event of default. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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