Automobile Reinsurance Facility Law and Legal Definition
Automobile reinsurance is one of several types of shared market mechanisms where persons who are unable to obtain such insurance in the voluntary market are assigned to a particular company. Generally, this type of reinsurance will be at a higher rate than the voluntary market. This kind of reinsurance is formerly called "Assigned Risk."
Legal Definition list
Related Legal Terms
- Advanced Automobile Propulsion System
- Advanced Nuclear Facility [Energy]
- Advanced Technology User Facility
- Air Facility System
- Air Navigation Facility
- Air Navigation Facility Certificate
- Ammonium Nitrate Facility
- Application for a Deposit Facility [Banks & Banking]
- Aquaculture Facility
- Assumption Reinsurance
