Noninsurance Transfer
Definition of "Noninsurance transfer"
Risk management technique for shifting a corporation's exposure from itself. A risk manager looks at many alternatives to insurance to limit the risks a business firm faces. One transfer method is by contract, such as hold-harmless agreements, or to insert in an existing contract an endorsement stating that the business firm will not be responsible for something that would normally fall within its responsibility.
Popular Insurance Terms
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Legislation mandating that factors taken into account in the calculation of premium rates for automobile insurance include the insured's driving record, annual miles driven, and years of ...
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