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
Same as term Canadian Institute of Actuaries: ...
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Payment under a state-sponsored program for victims of crimes. ...
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Need for an insurance policy to be paid up or to be paid for a minimum number of years before the insured is eligible to receive any benefits. This requirement is typically found in ...
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