A form of combined reinsurance which provides that in consideration of a premium, which is a fixed percentage of the ceding company’s subject premium on the business covered, the reinsurer will indemnify the ceding company for the amount of loss of each risk in excess of a specified retention and subject to a specified limit and after deducting the excess recoveries on each risk, the reinsurer will indemnify the ceding company against a fixed quote share percent of all remaining losses.