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)

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