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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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Hospitality Mutual replaces the Liquor Liability Joint Underwriting Association of Massachusetts, an insurer of last resort.
Louisiana's state-run property insurer of last resort won't be hobbled by the damage claims of hurricanes Gustav and Ike, the state insurance commissioner said Monday.
Donelon has said that if he is re-elected he will ask the Legislature to get rid of the association that manages the state's high-risk auto pool and its homeowners insurer of last resort.
 
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