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
Total of operating income plus realized capital gains (losses) from investment and underwriting operations minus federal income taxes. ...
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Series of payments made on either a FIXED DOLLAR ANNUITY basis or VARIABLE DOLLAR ANNUITY basis. ...
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