What is the Definition of Retrocession?
The reinsurance bought by reinsurers to protect their financial stability.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Retrocession?
You can find random definition and meaning of insurance terms below:
What is the meaning of Umbrella and Excess (Personal)
non-business liability protection for individuals above a specific amount set forth in a basic policy issued by the primary insurer; or a self-insurer for losses over a stated amount; or an insured or self-insurer for known or unknown gaps in basic coverages or self-insured retentions.
What is the meaning of Unauthorized Reinsurance
reinsurance placed with a company not authorized in the reporting company's state of domicile.
What is the meaning of Underinsured Motorist Coverage
policy option for bodily injury or property losses caused by a motorist with coverage insufficient to cover total dollar amount of losses. Compensation for the injured party is equal to the difference between the losses incurred and the liability covered by the motorist at fault.
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