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Reinsurance Management
the maximum volume of insurance (or reinsurance) business that
an insurer is prepared to accept.
Cash Loss
It is a provision common in proportional contracts which facilitate
a reinsured to make a claim and receive immediate settlement for
a large loss outside of the usual periodic accounting and settlement
procedures.
Catastrophe Reinsurance
This is a type of excess of loss reinsurance which indemnifies a
reinsured for accumulation of losses from a catastrophic event in
excess of a specified retention. This is more commonly referred to
as "a catastrophe cover."
Cedant
This is another way to refer to the reinsured or ceding insurer.
Cede
This is a decision to pass on to a reinsurer all or part of the
financial interests by the reinsured with the object of reducing
the possible liability from the insurance policies as written.
Claims Made Basis
The provision in a contract of insurance or reinsurance that
coverage applies only to losses which occur and claims for which
are made during the period a policy is in force.
Closing Particular
Final advice on full particulars of risk for which placement with
reinsurers is completed.
Commission
Agent's Commission-A percentage of premium paid to an agent
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