THE COMPANY

Reinsurance
Terms

  • Vicarious Liability

    The liability of one party which by law becomes the liability of another, such as the liability of an employer for the acts of an employee.

  • Voidable Preference

    A payment made by an insolvent debtor which, by statute, is recoverable by the debtor's estate because it was either made within a particular fixed period of time prior to commencement of insolvency proceedings or it was in payment of a noncontemporaneous debt, and had the effect of giving the particular creditor who received it more than that creditor's pro rata share of the debtor's assets.