Retrocession Catastrophe Cover
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.
Popular Insurance Terms
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Individual who is legally responsible for taking care of another individual (s) who is deemed to be incapable of managing his/her own affairs. For example, children under the age of ...
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Commission that is paid based on how profitable a particular type of business proves to be that is written by an agent. ...
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Theft of another's property by a person entrusted with that property. Coverage can be found under various bonding arrangements. ...
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