The facility for a Reinsurance Broker to arrange automatic Reinsurance.
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Refer: “Reinsurance, Broker’s Open Cover.”

Intermediaries who place Reinsurance business with Reinsurers on behalf of Ceding companies.

A transaction sometimes defined by statute through which, of itself or in combination with other similar agreements, an insurer assumes all or a substantial portion of the liability of the ceding company.

The ratio of the reinsurance losses incurred to the ceding company’s subject premium based upon historical experience for a proposed reinsurance agreement.