meaning of assumption endorsement

assumption endorsement meaning in Law Dictionary

When an insurance plan has some thing put into it to protect the holder if they're insolvent. The reinsurer need to pay the owner right. The middle man is taken out of the repayment process. AKA cut through endorsement.


assumption endorsement meaning in Business Dictionary

An addition to an insurance policy that shields the policyholder in case the insurance business becomes insolvent. Under this endorsement, any element of a claim included in a reinsurer is paid right to the policyholder. This supply "slices through" the typical course of a payment, in which the payment experiences the insolvent insurance provider before attaining the policyholder. Also called cut through endorsement.


assumption endorsement meaning in Insurance Dictionary

view Cut through recommendation.