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Nonboard Company |
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Nonboard Company 1. An insurance company that does not belong to a rating bureau, which is a cooperative organization that prepares documents for insurance companies according to local and state law. Every state has slightly different laws, and a rating bureau may save an insurance company some of the costs associated with changing its policy details every time it opens up in a new state. Nonboard companies, then, may have higher costs, especially when moving into a new market. 2. A company that does not have a board of directors. 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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