Noninsured Driver
Definition of "Noninsured driver"
Operator with no liability insurance. If a non-insured driver hits another car, the victim sometimes has no recourse against the driver. For this reason, many motorists carry uninsured motorist coverage, an endorsement to the personal automobile policy (pap) that covers them if they are involved in a collision with a driver without liability insurance. Some states also maintain an unsatisfied judgment fund to pay claims to innocent victims of automobile accidents.
Popular Insurance Terms
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Insured's income prior to the disability minus the insured's income after the disability. ...
Termination of coverage in insurance. ...
Accounting procedures that defer the full funding of a life insurance net level premium reserve to accommodate the policy acquisition cost in the early years of a policy. First-year policy ...
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Rule that concerns the distribution of the aggregate surplus among the policies in the same proportion as each respective policy has contributed to the surplus. ...
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