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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OCCURRENCE
An event that results in an Insured loss. In some lines of insurance, such as Liability, it is distinguished from accident in that the loss does not have to be sudden and fortuitous and can result from continuous or repeated exposure which results in bodily injury or property damage neither expected nor intended by the Insured.