1) To undertake or promise. In insurance, a company or an underwriter "assumes" a risk when he agrees to insure it. That is when insurance attaches. 2) Common usage pertains to acceptance of a risk by a reinsurer from an insurer.
Assume
1) To undertake or promise. In insurance, a company or an underwriter "assumes" a risk when he agrees to insure it. That is when insurance attaches. 2) Common usage pertains to acceptance of a risk by a reinsurer from an insurer.