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

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

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

• 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.

• 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 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;

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 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 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 transferring of rights as security for a loan (security cession).