Term used in Facultative Aviation Reinsurance when no reinsurance commission is allowable.
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(1) Term used in Marine insurance to emphasize that all discounts, without exception, have been taken off a premium (02) Term used in Facultative Aviation Reinsurance when no reinsurance commission is allowable.

The amount of insurance that a ceding company keeps for its own account and does not reinsure in any way. It is the amount of loss that a cedent retains after all available reinsurance recoveries (except in some instances for catastrophe reinsurance). See also Net Loss.

Explains that the loss subject to the reinsurance agreement is net of all other reinsurances, whether collectible or not, as well as net of salvages and all other reinsurance recoveries due to the reinsured.