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     Glossary of insurance terms…
 
 
 
J
 

 

JUA:
See Joint Underwriting Association:

Joint Underwriting Association (JUA):
An unincorporated association of insurance companies formed to provide a particular form of insurance to the public: Those who insure with a JUA pay assessments in addition to their premiums which provide monies for the operation of the association: JUA's are usually free to set their own rate levels and use whatever coverage forms are deemed proper, subject to approval by state authorities:

Joint Venture:
This expression is applied most often to construction ventures where several contractors agrees to combine together on a construction project rather than to act as separate contractors: Under the joint venture agreement, they share profits and losses in some agreed-upon proportion:

Judgment Rates:
See "A" Rates:

 
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