Nonproportional Facultative Reinsurance
Barron's Insurance Dictionary:
Top
Nonproportional Facultative Reinsurance
Coverage in which an insurer is not bound to cede and a reinsurer is not bound to accept a risk. A separate reinsurance contract covers each cession.
The contract is automatically renewed if the original insurance is renewed. Casualty facultative reinsurance is usually written on excess of loss basis, and the reinsurer shares only in losses which exceed retention level of the cedent.
The contract is automatically renewed if the original insurance is renewed. Casualty facultative reinsurance is usually written on excess of loss basis, and the reinsurer shares only in losses which exceed retention level of the cedent.
| Nonproportional Automatic Reinsurance, Nonprofit Insurer, Nonparticipating Insurance | |
| Nonproportional Reinsurance, Nonqualified Deferred Compensation, Nonqualified Plan |
Post a question - any question - to the WikiAnswers community:
Copyrights:
Barron's Insurance Dictionary
Dictionary of Insurance Terms. Copyright © 2008 by Barron's Educational Series, Inc. All rights reserved.
Read more