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