See: Excess Per Risk Reinsurance.
Insurance Encyclopedia
Per Risk Excess
Reinsurance in which the retention and the cession apply per risk rather than per accident, per event, or on an aggregate basis.
Per risk excess reinsurance
Retention and amount of reinsurance apply “per risk” rather than on a per accident or event or aggregate basis.
Per risk excess reinsurance (Reinsurance)
A kind of reinsurance wherein the insurer pays the loss up to a stated limit, and the reinsurer pays the rest of the loss up to the limit.
Per risk excess reinsurance treaty
Similar to a per occurrence/per loss excess treaty except in the matter of the retention. Retention and amount of reinsurance apply “per risk” rather than on a per accident or event or aggregate basis.
Per stirpes
Distribution of a deceased member’s share of the life insurance proceeds to the beneficiary’s children.
Per stirpes (Life Insurance)
The sharing of property between multiple beneficiaries. If the insured should outlive one of these beneficiaries, the deceased beneficiary’s heir shall inherit the beneficiary’s share of the property.
per thousand members per year (PTMPY)
Employed to report utilization for health plan members (e.g., hospital utilization shown in days PTMPY).
Per visit fee
Phrase used in managed care plan contracts that refers to the flat-rate payment made to a provider for one patient encounter.
Per-cause deductible
Dollar amount that the insured must pay for each accident or illness before major medical benefits begin payment. Also called per-disability deductible.