third-party insurance
noun
insurance that compensates for a loss to a party other than the insured for which the insured is liable.
third-party insurer
-
a word derived from
third-party insurance.
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
Properly structured captive insurance companies are legitimate companies that underwrite risks that are being covered by a third-party insurer or that the companies would otherwise insure themselves.
From Forbes ● Jun. 26, 2014
