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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Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few notable exceptions, such as re insurers, insurance companies must be licensed in the ...
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