A provision in an aviation excess of loss reinsurance which relieves the reinsurer of liability unless two or more aircrafts are involved in the same occurrence.
Tag: REINSURANCE
Two Rig Warranty
A provision in a marine excess of loss reinsurance which relieves the reinsurer of liability unless two or more rigs are involved in the same loss occurrence.
Two Risks Warranty
A provision in a property reinsurance catastrophe treaty that the reinsurer will be liable only in respect of claims where at least two risks are involved in one accident.
Two Vessel Warranty
A provision in a Marine Hull Excess of loss reinsurance which relieves the reinsurer of liability unless two or more vessels are involved in the same loss occurrence.