§ 58-30-1.2. "Rejected business" defined.

Rejected business is a risk that an insurer then represented by the insurance producer has rejected for underwriting reasons, or is willing to accept only on a substandard basis; but which business will be accepted and issued by another authorized insurer at a lower rate.

Source: SL 1982, ch 365 , § 7; SL 2001, ch 286 , § 155.