What does Noninsurance Risk Transfer mean? Read on to discover the definition & meaning of the term Noninsurance Risk Transfer - to help you better understand the language used in insurance policies.
Noninsurance Risk Transfer
The transfer of risk from one party to another party other than an insurance company. This risk management technique usually involves risk transfers by way of hold harmless, indemnity, and insurance provisions in contracts and is also called "contractual risk transfer."
We hope the you have a better understanding of the meaning of Noninsurance Risk Transfer.