In contract Bond Reinsurance, a clause specifying that reinsurance attached at a specified level of a principal’s total volume of work, rather than on the conventional basis of individual contract or bond amount.

Excess of Loss Reinsurance purchased by primary insurers to cover their unlimited medical and compensation liability under the compensation laws of the land.

REINSURANCE: A contract covering an amount of excess reinsurance in which frequency of loss is anticipated, usually attaching over a relatively low retention and usually providing a relative low limit of reinsurance coverage per loss or risk.
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REINSURANCE: A contract covering an area of excess reinsurance in which loss frequently is anticipated.
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UK: an excess of loss reinsurance in which loss frequency is anticipated because the specified limits fall well within the insurer’s underwriting limit for any one risk or loss occurrence.
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The first layer of an excess of loss treaty.

A contract covering a type of excess reinsurance (per risk) in which loss frequency is anticipated as opposed to loss severity. Thus a working cover would usually have a low indemnity and would attach above a relatively low retention.

The first layer above the cedant’s retention wherein moderate to heavy loss activity is expected by the cedant and reinsurer. Working layer reinsurance agreements often include adjustable features to reflect actual underwriting results.
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UK: See: WORKING COVER.