- 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.
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.