A form of REINSURANCE that, subject to a specified limit, indemnifies the CEDING COMPANY against the amount of loss in excess of a specified RETENTION. It includes various types of a reinsurance such as CATASTROPHE REINSURANCE, EXCESS PER RISK REINSURANCE, per occurrence reinsurance and AGGREGATE EXCESS OF LOSS REINSURANCE. Sometimes referred to as NON-PROPORTIONAL REINSURANCE.
An amount of reinsurance indemnifying the ceding company for the excess of a stipulated sum in event of loss.
Reinsurance wherein the insurer cedes liabilities, premiums, and losses on a nonproportional basis above the insurer's net retention of risk
Reinsurance which pays on the basis of the excess of claims over and above a pre-determined retention limit
A form of reinsurance whereby the reinsuring company reimburses the ceding company for the amount and only the amount of loss the ceding company suffers over and above an agreed aggregate sum in any one loss or in a number of losses arising out of any one event.
Refers to a method whereby an Insurer pays the amount of each claim for each risk up to a predetermined limit and the Reinsurer pays the amount of claim in excess to a specific amount.
Reinsurance covering claims only to the extent that they exceed a stated amount.
A contract between an insurer and a reinsurer, whereby the insurer agrees to pay a specified portion of a claim and the reinsurer to pay all or a part of the claim above that amount.