A contractual agreement in which one insurer agrees to insure the assumed liabilities of another insurer, a self-insured firm, or another reinsurer.

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Non-admitted Asset

Assets of an insurer that are not permitted by the state insurance department or other regulatory authority to be taken into account when determining an insurer’s financial condition. Non-admitted assets are typically illiquid assets, such as furniture, fixtures, agents’ past-due...

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A Deep Dive Into Subrogation

Updated November 2022 Subrogation and the Sutton Doctrine, Made Whole Doctrine Black’s Law Dictionary (Ninth Edition) defines subrogation as the

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