Term used by a reinsurer to indicate that he accepts not only the risk as it is presented to him but also any variation that may exist in the original policy. The wording protects the ceding insurer in case an error has arisen in transmission of the facts about the risk.

A term used in both treaty and facultative reinsurance which incorporates by reference all of the terms (as well as amendments, modifications, alteration, and waivers) of the original policy written by the insurer that are not modified in the reinsurance contract, i.e., the location of the property and the rate, among others.

A provision in a reinsurance agreement which incorporates by reference all of the terms (as well as amendments, modifications, alterations and waivers) of the original policy written by the ceding company that are not otherwise addressed in the reinsurance agreement. See also Follow the Fortunes.

The deductions or discounts allowed by a ceding insurer on a policy which is the subject of reinsurance.

The gross premium income received by an insurer in relation to business that is covered by a non-proportional reinsurance treaty. The reinsurance premium is calculated as a percentage of this OGPI.

The insured under a policy which becomes the subject of reinsurance.

The insurer which writes a policy for a policyholder (which may or may not create the need for reinsurance).
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The underwriter who writes the original risk that is the subject matter of the Reinsurance contract.

The net premium income of a ceding insurer.

The policy written by the original insurer.
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The Policy setting out the conditions of the Insurance written by the original insured.

The rate of premium charged on an insurance which has become the subject of reinsurance.