Life or Health Insurance on risks which do not meet the standards for the regular manual rate. See also Substandard. (LI,H)
Life or Health Insurance on risks which do not meet the standards for the regular manual rate. See also Substandard. (LI,H)
Shifting all or part of a risk to another party. Insurance is the most common method of risk transfer, but other devices, such as hold harmless agreements, also transfer risk. One of the four major risk management techniques. (See ‘Risk Management’).