Indicates that the Reinsurance covers the whole of the line signed on the original Insurance.
Tag: REINSURANCE
Full Written Line
Indicates that a Reinsurance order is for the full line written on the slip covering the original Insurance; effectively this is the same as G.S.L., because the written line will be transposed to a signed line when the original risk is closed.
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See: “Reinsurance, Full Written Line.”
Funded Cover
See: Rating
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UK: Prospective excess of loss treaty under which the cedant pays high premiums to the reinsurer for the purpose of paying later losses. The reinsurer deducts charges from the fund and, at the end of the contract, returns the balance to the cedant as profit commission.