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 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) .]
Examples of Cession in a sentence
No Cession and Assignment Neither this Agreement nor any part, share or interest herein nor any rights or obligations hereunder may be ceded, delegated or assigned by either Party without the prior signed written consent (which consent may not be unreasonably withheld) of the other, save as otherwise provided herein.
Any changes to the performance shall take place in accordance with Clause 12 of the General Terms and Conditions SAP Software Cession and Software Support.
More Definitions of Cession
Cession means the cession recorded in clause 12;
Cession means a cession in securitatem debiti;
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 cession of all the Carrier’s right title and interest in and to any insurance claim in respect of Goods conveyed by the carrier on behalf of Orange, a draft copy is annexed hereto marked Annexure “A”
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;