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insurer of last resort

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insurer of last resort
An insurance plan that accepts 'uninsurable' persons who have expensive and/or chronic diseases, and cannot obtain coverage at market rates. See Blues.


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Most State Farm policyholders will be able to find coverage in the private sector, where 30 to 40 companies have begun writing new business over the past two years, and will not have to utilize the state's insurer of last resort, Citizens Property Insurance Corp.
Hospitality Mutual replaces the Liquor Liability Joint Underwriting Association of Massachusetts, an insurer of last resort.
The quasi-governmental company that was conceived as an insurer of last resort, Citizens Property Insurance, has become Florida's top underwriter of homeowners' insurance.
 
 
 
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