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Insurance Definition: JOINT UNDERWRITING ASSOCIATION / JUA

By Compuquotes Team on March 27th, 2008

JOINT UNDERWRITING ASSOCIATION / JUA:

Definition:

  • Insurers which join together to provide coverage for a particular type of risk or size of exposure, when there are difficulties in obtaining coverage in the regular market, and which share in the profits and losses associated with the program. JUAs may be set up to provide auto and homeowners insurance and various commercial coverages, such as medical malpractice. (See Assigned risk plans)

Information provided by Insurance Information Institute

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