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General
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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