Reinsurance insurance covering all, or nearly all, of the reinsured’s business, i.e. ‘globally’ in ‘business spread’ and not ‘geographic’ terms. The ‘global’ pays losses in excess of the aggregate net aggregated losses sustained by the reinsured’s many departments (e.g. motor, aviation, marine, property, etc.) following one major event, such as Hurricane Betsey, that strikes simultaneously at ships, aircraft, property on land etc. Policy wording is similar to an excess of loss catastrophe reinsurance. ‘Globals’ can provide cover for specific risks as well as large risk accumulations.