National Insurance Development Corporation

Definition of "National insurance development corporation"

Connie Gibson real estate agent
Connie Gibson, Real Estate Agent Realty Professionals of Florida

Government group that provides reinsurance for private insurers that write riot and civil commotion insurance. Riot losses in major cities in the 1960s caused insurers to stop writing this coverage in certain urban areas, whereupon Congress created federal crime insurance and the National Insurance Development Corporation.


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