| 单词 | assumption endorsement |
| 释义 | assumption endorsementDefinition An addition to an insurance policy that protects the policyholder in the event that the insurance company becomes insolvent. Under this endorsement, any part of a claim covered by a reinsurer is paid directly to the policyholder. This provision "cuts through" the usual route of a payment, in which the payment goes through the insolvent insurance company before reaching the policyholder. Also called cut through endorsement. |
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