LENDER OF LAST RESORT

\lˈɛndəɹ ɒv lˈast ɹɪzˈɔːt], \lˈɛndəɹ ɒv lˈast ɹɪzˈɔːt], \l_ˈɛ_n_d_ə_ɹ ɒ_v l_ˈa_s_t ɹ_ɪ_z_ˈɔː_t]\

Definitions of LENDER OF LAST RESORT

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1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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PROPORTIONAL AGREEMENT

  • When an insurer must take their share the losses based on a fixed variable percentage or monetary value. Refer to excess of loss agreement.
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