This is a method for recalculation of prior years of reinsurance experience to demonstrate what the underwriting results of a particular program would have been if the proposed program had been “as if” in force during that period.

An organization of insurers or reinsurers through which pool members underwrite particular types of risks with premiums, losses, and expenses shared in agreed amounts. Associations may be voluntary or involuntary if mandated by insurance laws.

Accept all or part of reinsured’s insurance or reinsurance on a risk or exposure through various forms of reinsurance.

A procedure under which one insurance or reinsurance) company takes over or assumes contractual obligations of another insurer or reinsurer.

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An amount accepted by the reinsurer.

An endorsement to an insurance policy or reinsurance contract wherein a reinsurer assumes insurance obligations or risks, or both, of existing or in-force policies of insurance. The term is distinguished from a cut-through. See Cut-Through Endorsement.