REINSURANCE: A contract covering an amount of excess reinsurance in which frequency of loss is anticipated, usually attaching over a relatively low retention and usually providing a relative low limit of reinsurance coverage per loss or risk.
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REINSURANCE: A contract covering an area of excess reinsurance in which loss frequently is anticipated.
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UK: an excess of loss reinsurance in which loss frequency is anticipated because the specified limits fall well within the insurer’s underwriting limit for any one risk or loss occurrence.
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The first layer of an excess of loss treaty.