A reinsurance broker who places a surplus line.
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A broker who has a license to deal with insurers not admitted in his or her state.

Excess of loss ratio reinsurance where the excess point is recalculated annually as a moving average of the loss ratio experienced over an agreed number of preceding years and the ceding company is required to bear an agreed share of any loss in excess of that average.

The marine insurance equivalent of surplus reinsurance.

A Company may have in its books an inward Reinsurance portfolio of excess of loss covers involving not only considerable limits of liability on individual covers accepted, but also inevitable accumulation of liability, in that a number of such covers may be affected by a single event. An excess of loss protection may be arranged to limit such accumulations to a definite figure in respect of any one event.

Excess of loss Reinsurance that indemnifies the Ceding Insurer against the amount by which its losses incurred during a specific period, usually twelve months, exceed either (i) a predetermined rupee amount, or (ii) a percentage of the Insurer’s premium for that period. Commonly referred to as “stop loss Reinsurance” or “excess of loss ratio Reinsurance.”

A form of reinsurance also known as “aggregate excess of loss reinsurance” under which a reinsurer, subject to a specified limit, is liable for all losses, regardless of size, that occur after a specified loss ratio or total dollar amount of losses has been reached. See Aggregate Excess of Loss Reinsurance, Stop Loss Reinsurance.

Generic term describing Reinsurance which subject to a specified limit, indemnifies the Ceding Insurer for amounts of loss in excess of specified retentions. (ii) Reinsurance which indemnifies the Ceding Company for the portion of any loss resulting from a single occurrence, however defined, that exceeds a predetermined amount, which is known as a first loss retention or deductible.

A form of reinsurance, which, subject to a specified limit, indemnifies the ceding company for the amount of loss in excess of a specified retention. It includes various types of reinsurance, such as catastrophe reinsurance, per risk reinsurance, per occurrence reinsurance and aggregate excess of loss reinsurance.

A form of excess of loss reinsurance which, subject to a specified limit, indemnifies the ceding company against the amount of loss in excess of a specified retention for each risk involved in each occurrence.
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UK: An excess of loss reinsurance which, subject to a specified limit, indemnifies the reinsured against the amount of loss in excess of a specified retention for each risk involved in each loss occurrence regardless of the number of risks. The amount of risk retained by the cedant be different may for each risk transferred. A risk may be defined as a building and its contents. This form of treaty often substitutes for proportional reinsurance or supplements it, thereby protecting the cedant against the effect of underestimating estimated maximum loss.

Term used in excess of loss reinsurance for the point at which the reinsurance comes into effect.