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Fixed Rate Treaty

REINSURANCE: A reinsurance treaty under which the rate of premium is fixed at the outset as a percentage of the ceding insurer’s premium income less premiums paid for reinsurance effected in priority to reinsurance under the treaty.
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UK: Excess of loss reinsurance treaty under which a flat rate is agreed. The rate is applied to the cedant’s original gross premium income less only reinsurances paid out by the company which operate in priority to and for the benefit of the excess of loss treaty. The burning cost method is used to calculate the rate. Compare with sliding scale treaty.
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UK: Means quota share treaty.
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REINSURANCE: The Reinsurers agree to accept automatically a fixed proportion of all Insurances of a defined type, say one-half of all fidelity guarantee Insurances accepted by the Direct Insurers.

Fixtures

Generally, something tangible that is fixed or attached, as to a building, so that it becomes an appendage or structural part.
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Appurtenances which are affixed to the building or land and generally in such a way that they cannot be moved without causing damage to either to property or themselves and as such as a general rule become part of the realty so that ownership vests in the landowner, with certain exceptions for tenant’s fixtures and trade furniture.

Fixtures & Fittings

Those articles that are attached and appear to be a permanent part of the property. However, at times they are used to refer to articles of furniture and equipment which are not permanently attached. Thus, shelves, showcases, counters are customarily regarded as fixtures and fittings, though, some of these may not be permanently attached.

Fixtures and fittings

Additions to buildings ‘therein or thereon’, usually considered a part of the building. The landlord’s fixtures and fittings are insured as part of the building but if installed by the tenant they are insured as ‘contents’. In regard to any particular fixtures or fittings it is necessary but not sufficient to ascertain who installed them as fittings installed by a tenant may be become landlord’s fixtures. Pointers include purpose of the addition, the degree of actual attachment to the building and the terms of any lease.