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 GLOSSARY TERMS by Alpha
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Jacket
Jewelers block insurance
Joint and several liability
Joint Underwriting Association (JUA)
Joint venture
Jones Act
Judicial bonds
Jumbo risk

Joint Underwriting Association (JUA)

These are insurance pools representing all insurers in a state. A few "servicing carriers" act on behalf of all the insurers, issuing policies, receiving fees, and handling claims. They are reimbursed for losses, and receive fees from the JUA to cover operating costs.

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