run-off
n.— «Michael Callen, who became interim CEO after Robert Genader left, told analysts on a conference call that the company has no plans to stop writing new insurance, a process known as going into “run-off.”» —“Ambac Reports Loss, Talks With ‘Potential Parties’ ” by Christine Richard Bloomberg.com Jan. 22, 20008. (source: Double-Tongued Dictionary)
Further reading
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