Contents Close
You are currently not signed in. Any products you have purchased will not be available until you Sign In.
For a personalized walk-through of IRMI Online, Request a Demo.

assumption of liability agreement

A separate agreement between a company designated as the reinsurer and a policy-issuing company entered into for the benefit of an insured. It makes the reinsurer directly liable to the insured in the event of the insolvency of the issuing company. The reinsurer typically is a licensed company in the states where the insured requires coverage, thus giving insureds access to an insurer that is subject to state regulation. Another important provision specifies that the agreement takes precedence over any other reinsurance contracts or arrangements between the reinsurer and the primary insurer. These agreements are almost always made between affiliated insurers.

More Risk Finance and Captives Information from IRMI
Books, Manuals, Newsletters IRMI
Risk Financing IRMI Online ReferenceConnect
Captive Insurance Company Reports IRMI Online ReferenceConnect
Captive Practices and Procedures IRMI Online ReferenceConnect
Captives and the Management of Risk IRMI Online ReferenceConnect
The Risk Report IRMI Online ReferenceConnect
Free Risk Financing Articles in
25 Risk-Conquering Ideas
Risk Finance
Captive Insurance
Additional Insured Insurance Law
Insurance Continuing Education Courses from IRMI
Ethics Considerations for P&C Insurance Professionals (CE)
Ethics in the P&C Insurance Workplace (CE)


Social Media

User ID: Subscriber Status:Free