An Insurer who acts for other (re)insurers by issuing a policy in its own name, thereby holding itself directly liable for claims to the insured, although the liability of the Company is reinsured 100% with other insurers.
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The legal contract outlining the full benefits, eligibility and procedures followed by your insurance company for your coverage. A “benefit grid” or “schedule of benefits” is a brief overview of the Policy, and the Policy has more of the specifics and legal guidelines.