promissory note
A promissory note is a financial instrument used to provide an insurer with financial security necessary to implement a collateralized cash flow program, such as a retrospectively rated insurance plan.
promissory note
A promissory note is a financial instrument used to provide an insurer with financial security necessary to implement a collateralized cash flow program, such as a retrospectively rated insurance plan.
Additional Information
Promissory notes provide an insurer with status as a senior creditor rather than a general creditor.
