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Reinsurance

The insurance of insurers: proportional and non-proportional treaties, programme structures, retrocession, commissions, and the renewal vocabulary that paces the market.

130 terms

Access to records clause Adjustment premium Aggregate excess of loss Annual aggregate deductible Attachment point Attribution science Back-to-back coverage Basis risk Bulk annuity (buy-in and buy-out)Burning cost (and burning cost ratio)Caisse centrale de réassurance (CCR)Capital relief Caribbean Catastrophe Risk Insurance Facility (CCRIF)Cascading layer Catastrophe bond (cat bond)Catastrophe reinsurance (Cat XL)Ceded loss ratio Ceded losses Ceded premiums Ceding commission Cession and retrocession Cession bordereau Cession ratio Claims control clause Claims cooperation clause Clash cover Clean cut Co-reinsurance Collateralized reinsurance and sidecar Commutation Compulsory cession Concentration risk Contract certainty CRESTA zones Cut-through clause Difference in Conditions (DIC)Diversification Drop down clause Errors and omissions clause Estimated premium income Excess of loss (XL)Excess of loss treaty (XL)Experience account Experience rating Extreme mortality bond Facultative and treaty reinsurance Facultative reinsurance Finite risk reinsurance Follow the fortunes and follow the settlements Fronting Funds withheld Horizontal exhaustion Hours clause Index clause Insolvency clause Insurance-Linked Securities (ILS)Inuring reinsurance Layer exhaustion Layer limit Layering Lead reinsurer Legacy reinsurance Letter of credit Long tail Longevity risk Longevity swap Loss corridor Loss on line Loss participation Loss portfolio transfer (LPT)Loss ratio cap Losses occurring basis Minimum and deposit premium Morbidity risk Mortality risk Multi-year treaty Net loss ratio Net losses Net premiums Offset clause Oversubscription Parametric trigger Parametric vs indemnity trigger Payback period Pension risk transfer (PRT)Per occurrence excess of loss Per risk excess of loss Portfolio in and portfolio out Profit commission Provisional commission Quota share Quota share treaty Rate on line Reinstatement Reinsurance arbitration clause Reinsurance captive Reinsurance collateral Reinsurance credit Reinsurance layer Reinsurance panel Reinsurance sidecar Reinsurance slip Retention Retrocession spiral Retrospective reinsurance Risk attaching basis Run-off Scheme of arrangement Service of suit clause Sliding scale commission Solvency quota share Spread loss cover Stop-loss (aggregate excess of loss)Structured reinsurance Subject premium Subject premium base Sunset clause Surplus share treaty Top and drop cover Trade credit and surety reinsurance Treaty account Treaty novation Treaty reinsurance Treaty reinsurance broking Treaty underwriter Treaty wording Underwriting line Vertical exhaustion Whole account protection Working layer vs catastrophe layer

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