Retention And Limits Clause
Provision in almost all excess of loss reinsurance contracts under which payment is made by a re insurer of each and every loss incurred by the cedent in excess of a specified sum, up to a fixed limit. Under this clause, there is no restriction on the number of claims that may be recovered by the cedent under the contract for any one event. The only stipulation is that each claim must arise as a result of the event in question.
Popular Insurance Terms
Attributes of a particular employee benefit plan. For example, a general characteristic of group life insurance is that the whole group is underwritten, not individual members. ...
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Cost per unit of insurance. ...
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Type of proportional reinsurance under which the ceding company (primary insurer) cedes a portion of the face amount of the life insurance policy it has underwritten to its reinsurer. The ...
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