Assessment Association

Assessment Association,

Assessment Association Definition:

An insurer who does not receive a fixed premium for insurance, but instead reviews it regularly to pay for his losses to his members. Assessment Insurers usually charge an estimated initial premium to cover losses and expenses, but reserve the right to provide an additional assessment if the calculated premium is insufficient.

You can define Assessment Association as, The insurance company is entitled to receive additional premium from the policyholder in case the payment premium exceeds the initial premium paid by the policyholder. They are also known as appraisal companies.

Literal Meanings of Assessment Association

Assessment:

Meanings of Assessment:
  1. Testing or evaluation of someone's nature, quality or performance or something.

Sentences of Assessment
  1. Determining educational needs

Synonyms of Assessment

gauging, opinion, judgement, appraisal, estimation, evaluation, rating, analysis

Association:

Meanings of Association:
  1. A group of people (usually by name) are organized with a common goal.

  2. Cooperative bonds or bonds between people or organizations.

  3. The mental relationship between ideas or things.

Sentences of Association
  1. National Broadcasters Association

  2. Established close ties with the university

  3. The word bureaucracy has uncomfortable associations

Synonyms of Association

union, consortium, connection, confederation, partnership, guild, alliance, coalition, link, bond, league, cooperative, interrelation, interconnection, confederacy, corporation, amalgamation, relationship, merger, interdependence, tie, relation