Automatic Nonproportional Reinsurance
Definition of "Automatic nonproportional reinsurance"
Automatic protection for an insurer against losses that exceed a predetermined loss limit. This reinsurance may be subdivided into three primary types: excess of loss, catastrophe loss, and stop loss.
Popular Insurance Terms
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Rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record. ...
Number of times losses occur, and their severity. These statistics measure expectation of loss, and are critical in establishing a basic premium or the pure cost of protection that is based ...
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