Runoff


Definition of "Run-off"

Sharon Dolezal
  Coldwell Banker

Liability of an insurance company for future claims that it expects to pay and for which a reserve has been established.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Housing Bank

A government-owned or -affiliated lender that makes home loans directly to consumers. With minor exc ...

Temporary Nonoccupational Disability Plan

Social insurance that provides benefits to temporarily disabled workers in a few states. Five states ...

Cavity Wall

Hallow masonry wall consisting of an inner and outer wall with dead air space between them. The air ...

Market Value Clause

Provision of property insurance that establishes the amount for which an insured must be reimbursed ...

Finance Charge

fee for the cost of a loan including interest and points. Points (1 point= 1% of the total loan) are ...

Combination Agency

Life insurance company agency that sells ordinary life insurance and industrial life insurance. ...

Related Real Estate FAQ

What Is A Mortgage Insurance Premium (MIP)?

A mortgage insurance premium is a policy that insures the lender against loss if the homeowner defau ...

Do I Need Earthquake Insurance?

If you live in an Earthquake zone. Yes! Typically most homeowners insurance insurance coverage would ...

What Is Loan Amortization?

This calculator will amortize your mortgage over the loan period based on your input. To see a break ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you ...

Is Depreciation Common?

Generally, real property never depreciates in value, or more so, it is not very common for property ...

What Is An Annuity?

An annuity is a long-term, interest-paying contract offered through an insurance company or financia ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

6 Reasons you are not selling properties What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? Should you Buy a Home with Cash? What is Escrow and how does it Work? What Must I Disclose When Selling My Home?

FAQ

What are the benefits of Commercial Auto Insurance? What is Disability Insurance? What happens when you prequalify? What is an annuity? What is a second mortgage?