Cession definition

Cession means the transfer of a part of the insured risk from an insurance company to a reinsurance company;

Cession means a transfer by a policy originating insurer to a reinsurer of the whole or a portion of a single risk, defined policy or defined division of business as set out in a reinsurance contract. [ 1991, c. 828, §20 (NEW) .]

Cession means the cession recorded in clause 12;

Examples of Cession in a sentence

• Cession and Assignment .......................................................................................................

• An officer may on giving 03 months notice be permitted to resign his/her commission on compassionate grounds of which the Government of India will be the sole judge.

• Cession of the ReservationThe principal contractor or the beneficiary is allowed to freely transfer his/her booking to another person who meets the requirements for it, giving written notice 15 days before the scheduled departure date.

• Cession of costs‌Costs awarded in interlocutory proceedings shall not be ceded without the consent of the court awarding such costs.

• Cession, exchange or expansion of territory can only take place by virtue of a law.

More Definitions of Cession

Cession means the assignment to another person of the right to file a claim;

Cession means the part of insurance passed to a reinsurer by the insurer which issued a policy to the original insured or part of contracted risk ceded by a reinsurer to a retrocessionaire;

Cession means the cession of Alclin’s right, title and interest in and to its debtors and the agreement between it and ESCO and/or the Machinery (to the extent not covered by the Notarial Bond);

Cession means the cession of that part of the Plant Rental Proceeds comprising the Purchase Price payable by Plant Rental to the Seller in the form of the cession annexed hereto as Appendix “2”;

Cession means a cession in securitatem debiti;

Cession means a deed of cession to be entered into between Africa Vanguard and Randfontein, in terms of which Africa Vanguard cedes its reversionary right to receive profits from the Joint Venture to Randfontein in securitatem debiti, as security for the payment of the Purchase Consideration and the fulfilment by Africa Vanguard of its obligations under the Joint Venture Agreement, it being recorded that Nedbank will take a first cession of the profits as part of the Security Documents;

Cession means the amount of insurance risk transferred to a reinsurer by a ceding company may be the whole or a portion of a single risk;