Prospective Aggregate Excess Of Loss Reinsurance
Type of excess of loss reinsurance in which the insurance company (cedent) is guaranteed reinsurance for future covered losses once they exceed a specified amount on either a per loss, per risk, or aggregate basis. The cedent pays at the inception of the contract the excess of loss reinsurance contract.
Popular Insurance Terms
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Rating system under which a specific premium rate, rather than a manual or class rate, is assigned to each unit of exposure. ...
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