Assessment Company
Definition of "Assessment company"
Insurance company that has the authority to assess or charge its policyholders for losses that the company is incurring. This company is sometimes called stipulated premium company or assessment association. These companies were relatively common in the 1800s and early 1900s but have since become rare. Most insurance companies cannot assess policyholders for losses.
Popular Insurance Terms
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Process of calculating a premium so that it is adequate-sufficient to pay losses according to expected frequency and severity, thereby safeguarding against the insurance company becoming ...
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