Page 279 - Reinsurance Management IC85

Reinsurance Management

c) From Ground Up (FGU)
A term referring to reinsurance losses subject
to the contract under consideration before the
application of any RETENTION, but after
reduction because of any other reinsurance
which inures to the benefit of the coverage being
considered. Also sometimes used to describe
losses before reduction for inuring reinsurance.
Also GROSS LOSS.

Ground-Up Loss
In reinsurance, the term refers to the gross loss
to the cedent (beginning at the first dollar of
loss)less any deductions required by the
reinsurance agreement. These may include the
reinsured's excess of loss retentions, inuring
reinsurance (proportional treaty contracts,
facultative, per risk excess, and common account
protection) or reinsurance uncollectibles.

d) Bordereaux
A detailed report of insurance premiums and
losses policy-wise as submitted by a reinsured to
his reinsurer. Bordereaux reporting is usually done

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