Prospective Aggregate Excess Of Loss Reinsurance
Definition of "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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