Impaired Insurer

Definition

  • An insurance company in such a state of financial insolvency or illiquidity that it is in jeopardy of not being to meet its financial commitments.

Synonyms
abandon commitment, insecure, no protection

Related Terms and Acronyms

  • Bankruptcy (BK) Acronym, Important,
    • A court action under the Federal Bankruptcy Code by which a debtor's debts may be discharged, usually by transferring assets to a trustee, or rescheduled.
  • Coverage Definition,
    • The type or amount of protection afforded by an insurance policy.
  • Insurance (insur) Abbreviation,
    • An arrangement where one party provides financial protection to another party for specific damages or losses.
  • Insurance Policy Definition,
    • A legal contract between an insurer and entity that specifies what the insurer is required to cover and any benefits the insured entity is entitled to.
  • Unfair Claims Practice Definition,
    • The act of an insurance company avoiding or reducing valid insurance claims.
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