The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

ADVERSE DEVELOPMENT COVER Definition & Legal Meaning

Definition & Citations:

A FINITE INSURANCE CONTRACT where the INSURED shifts the timing of losses that have already occurred, as well as those that have been INCURRED BUT NOT YET REPORTED, to the INSURER. In exchange for a PREMIUM the insurer assumes losses in excess of the insured


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