An Insurer who agrees to reimburse another Insurer in respect of claims on the latter’s liability.
An Insurer who agrees to reimburse another Insurer in respect of claims on the latter’s liability.
A risk, or subject of insurance, with insurable qualifications below the standard of risks on which the premium for the coverage was based. For example, a Life Insurance prospect with heart disease would be an impaired risk. See Substandard Risk. Contrast with Standard Risk.