We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Cession definition

Cession means the transfer of a part of the insured risk from an insurance company to a reinsurance company;
Cession means the part of insurance passed to a reinsurer by the insurer which issued a policy to the original insured or part of contract ceded by a reinsurer to a retrocessionaire;
Cession means the assignment to another person of the right to file a claim;

Examples of Cession in a sentence

  • Cession ID This field contains the number assigned to this cession by the Reinsurer.

  • Reserve Percent Value appears on Coinsurance business only Cession Count Cession count only appears under Life (Base), not benefits.

  • This summary provides the Cession Count, Ceded Amount and Net Amount at Risk at the beginning of the reporting period, a summary of the transactions occurring during the report period as well as what is in force as of the ending of the report period.

  • Cession ID This field contains the number assigned to this cession by the Reinsurer Benefit Type This field is the reserve type.

  • Cession ID This field contains the number assigned to this cession by the Reinsurer Transaction Sequence This field indicates the transaction record(s) created during the month.


More Definitions of Cession

Cession means the cession recorded in clause 12;
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 part of risk passed to a Re-insurer by the cedant;”
Cession means a cession of a registered lease of immovable property, the unexpired period of which is at the date of cession not less than 30 years;
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 unit of insurance passed to a reinsurer by the insurer which issued a policy to the original insured and, accordingly, a cession may be the whole or a portion of single risks, defined policies or defined divisions of business, as agreed in the reinsurance contract;
Cession means the insurance coverage transferred to a reinsurer by a ceding insurer. A cession may be all or a portion of a single risk, a group of defined policies, or defined portions of a policy;