A provision in a reinsurance agreement that allows the Reinsurer access to the Ceding Company’s books, records, and other reinsurance-related documents and information. This includes related accounting, underwriting, and claims information for the purpose of obtaining information about the reinsurance agreement or its subject matter from the Reinsurer.

Measures premiums and losses relating to accidents that occurred during a twelve-month period. Earned premiums and ultimate losses from loss events occurring within the same twelve-month accounting period are used to calculate underwriting results, regardless of when the losses are actually reported, booked, or paid.

See also Calendar Year Experience and Policy Year Experience.