Retrocession Catastrophe Cover


Definition of "Retrocession catastrophe cover"

Kathy Thompson real estate agent
Kathy Thompson, Real Estate Agent Berkshire Hathaway Home Services Select Realty

Reinsurance of & re insurer such that the re insurer protects itself from a catastrophe occurrence. Just as an insurer must decide to cede to the re insurer a portion of a risk it has underwritten, the re insurer must make the same decision as to which risks it can sustain within its resources, and what portion of the risks it must retrocede. Retrocession may be either proportional or non proportional.

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