What is the definition of Assumption endorsement? | Dictionary.net

ASSUMPTION ENDORSEMENT

\ɐsˈʌmpʃən ɛndˈɔːsmənt], \ɐsˈʌmpʃən ɛndˈɔːsmənt], \ɐ_s_ˈʌ_m_p_ʃ_ə_n ɛ_n_d_ˈɔː_s_m_ə_n_t]\

Definitions of ASSUMPTION ENDORSEMENT

1910 - Black's Law Dictionary (2nd edition)

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When an insurance policy has something added to it to protect the holder if they are insolvent. The reinsurer must pay the holder directly. The middle man is taken out of the payment process. AKA cut through endorsement.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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