Nontransferability provisions

{
  "id": "MLC-T-INS-002361",
  "term": "Nontransferability provisions",
  "field": "Insurance and risk management",
  "definition": "Policy clauses that bar the policyholder from assigning or transferring rights, benefits or obligations under the contract to another party without the insurer's consent. They are standard in property, liability and health coverages, where the insurer priced the risk of the original insured and the exposure changes with a new party. Life insurance policies are different, because they can generally be assigned by the owner.",
  "url": "https://mlchart.com/terminology/insurance/nontransferability-provisions/"
}