Reinsurer

treaty reinsurance

treaty reinsurance : reinsurance under a general agreement that automatically reinsures in accordance with its terms all risks of a given class to a predetermined extent as soon as they are insured by the direct underwriter compare facultative reinsurance ...

reinsure

reinsure : to insure again : transfer or assume (liability) through reinsurance [frequently part of their exposure "R. I. Mehr"] ...

reinsurer : an insurance company that insures all or part of the liability of another insurance company ...

reinsurance

reinsurance : insurance or indemnification by a second insurer of all or part of a risk assumed by another insurer as contracted for by the first insurer see also cede compare direct insurance, retrocession ...

cession

cession 1 : an act of ceding : a yielding (as of property) to another: as a in the civil law of Louisiana : assignment or transfer of property rights by a debtor to a creditor b : transfer of liability by an insurer to a reinsurer c : transfer of control of or sovereignty over specific property or territory esp. by treaty [such district…as may, by of particular States…become the seat of the government of the United States "U.S. Constitution art. I"] 2 : the monetary amount of liability ceded by an insurer to a reinsurer compare concession ...

facultative reinsurance

facultative reinsurance [alluding to the faculty (i.e., power or prerogative) of the reinsurer to accept or reject the agreement] : a separate reinsurance agreement drawn up for a single risk compare treaty reinsurance ...

retrocession

retrocession [French rétrocession, from Medieval Latin retrocessio retreat, from Late Latin, act of going back, from Latin retrocedere to go back] 1 : the return of title to property to its former or true owner ;specif in the civil law of Louisiana : the return to a decedent's heirs of property of the decedent that had been sold or assigned by coheirs NOTE: An heir's right to retrocession has been repealed. 2 : the act of ceding back something (as jurisdiction) 3 a : the process by which all or part of the risks assumed in an insurance contract are reassigned or ceded by a reinsurer to another insurance company b : the amount reassigned or ceded ...

Reinsurer - Law Dictionary Search Results