Rejected business is a risk that an insurer then represented by the insurance producer has rejected for underwriting reasons, or is willing to accept only on a substandard basis; but which business will be accepted and issued by another authorized insurer at a lower rate.

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Source: SL 1982, ch 365, § 7; SL 2001, ch 286, § 155.