Accommodation Line

Definition of Accommodation Line

  1. When an insurance company approves insurance coverage for a client who normally would not qualify as a favour to a broker. A broker may use an insurer for a great deal of business, so in some cases it may behoove the insurer to use an accommodation line to approve a few policies for sub-standard clients in order to placate a broker and stop them from taking their business to another insurance company.

Synonyms

  • make room
  • take in
  • welcome line

Related Terms and Acronyms

  • Without Evidence of Insurability Definition,
    • Applying for insurance coverage without the insurer requiring the individual to take a medical examination.
  • Premium Definition,
    • A payment made to an insurance company for insurance coverage.
  • Substandard Insurance Definition,
    • Insurance for those who are ineligible for standard insurance due to higher risk profiles.
  • Concealment Definition,
    • The act of lying or omitting information when applying for insurance coverage.
  • Insurance Broker Definition,
    • An agent who sells insurance policies.
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