UK: Continuing the reinsurance of a portfolio under a cancelled treaty until all premium is earned or all losses settled or both.
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REINSURANCE: Continuing the reinsurance of a portfolio until all ceded premium is earned, or all losses are settled, or both. While a loss runoff is usually unlimited as to time, a premium run-off can be for a specified duration.
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REINSURANCE: The opposite of Return of Portfolio – permitting premiums and losses in respect of in-force business to run to their normal expiration upon termination of a reinsurance treaty.

Compare with estimated maximum loss. See MAXIMUM POSSIBLE LOSS.

Contingent capital arrangement whereby the funding to pay for a loss is obtained after the loss by means of guaranteed equity or debt finance. The financial institution giving the guarantee receives a commitment fee from the insured. The loss is defined in conventional insurance terms. Post loss funding is alternative risk transfer.

The steps taken to contain a loss to a minimum amount (loss protection). The property salvaged from a fire may have a sale value or be restored. Property is removed from burning buildings and protected against the elements and theft. Where personal injury or disease is concerned, appropriate support can shorten periods of disablement suffered following injury and trauma. See REHABILITATION.

Continued employment of pension scheme members beyond their normal pension date. Subject to scheme rules they continue as active members and commence their pension at a later date.

Part IV of PUWER 98 contains specific regulations for power presses. Each power press should have an associated guard or protection device and be thoroughly examined at least every 12 months if it has a fixed guard, otherwise six monthly, and inspected daily to ensure that it is safe. This work should only be performed by a competent person and records should be kept.

IR notes on discretionary approval of occupational pension schemes.

Part of the Civil Procedure Rules covering claims procedures and timetables in respect of: personal injury; clinical negligence; defamation disputes; professional negligence; construction and engineering disputes. The objects are to encourage the early exchange of full information about the claim; to enable the parties to avoid litigation by agreeing a settlement; and to support the management of proceedings. The Protocols lead to a ‘cards on the table’ approach.