run-off
n.— «An insurer that closes to new business—called run-off in industry parlance—usually keeps a bare minimum of staff for as long as is necessary to honour claims being lodged on policies already sold.» —“sEnergy to go out of business” by Lilla Zuill Royal Gazette (Hamilton, Bermuda) Apr. 11, 2006. (source: Double-Tongued Dictionary)
Further reading
Brian from Lafayette, Indiana, wonders why chicken is abbreviated CHX in the restaurant industry. Using X as a substitute or shortener has a long history. Medieval scribes sometimes drew a line through the final stroke of an abbreviated word. This...
Quiz Guy John Chaneski pitches a puzzle about the names of minor-league baseball teams. For example, which team’s name might refer either to a type of weather phenomenon or a wooden roller coaster on the Coney Island boardwalk? This is part of...