The deductions or discounts allowed by a ceding insurer on a policy which is the subject of reinsurance.
Tag: RAW
Original Equipment Manufacturers (OEM accounts)
Customers who incorporate the exporter’s product into their own merchandise for resale under their own brand names.
Original Gross Premium Income (OGPI)
The gross premium income received by an insurer in relation to business that is covered by a non-proportional reinsurance treaty. The reinsurance premium is calculated as a percentage of this OGPI.
Original Insured
The insured under a policy which becomes the subject of reinsurance.
Original Insurer
The insurer which writes a policy for a policyholder (which may or may not create the need for reinsurance).
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The underwriter who writes the original risk that is the subject matter of the Reinsurance contract.
Original Net Premium Income
The net premium income of a ceding insurer.
Original Policy
The policy written by the original insurer.
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The Policy setting out the conditions of the Insurance written by the original insured.
Original Rate
The rate of premium charged on an insurance which has become the subject of reinsurance.
Original Slip
The slip by the broker in negotiating an Insurance or Reinsurance contract. The contract is concluded on the original slip.
Original Terms
A reinsurance expression signifying that the reinsurance is granted on the same conditions and at the same rate of premium as the original insurance.
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UK: reinsurance granted on the same conditions and the same rate of premium as the original insurance.