Quota share reinsurance definition

Quota share reinsurance means insurance purchased for the employee health care benefit plan which pays the plan a prede- termined fixed percentage of each claim.
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Quota share reinsurance means that form of reinsurance in which the reinsurer assumes a fixed percentage of the insured risk.
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Quota share reinsurance means a form of reinsurance in which the reinsurer shares a proportional part of both the original premiums and the losses of the reinsured.
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More Definitions of Quota share reinsurance

Quota share reinsurance means that form of reinsurance in which the reinsurer assumes a fixed percentage of the insured risk. 'Shared risk pooling' means that method used by member insurers of the Underwriting Association to transfer risks to a common pool of shared market consumers with the experience of the pool allocated among the members."
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Related to Quota share reinsurance

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Reinsurance Agreement means any agreement, contract, treaty, certificate or other arrangement whereby any Regulated Insurance Company agrees to transfer, cede or retrocede to another insurer or reinsurer all or part of the liability assumed or assets held by such Regulated Insurance Company under a policy or policies of insurance issued by such Regulated Insurance Company or under a reinsurance agreement assumed by such Regulated Insurance Company.

  • Reinsurance Agreements means any agreement, contract, treaty, certificate or other arrangement by which any Insurance Subsidiary agrees to transfer or cede to another insurer all or part of the liability assumed or assets held by it under one or more insurance, annuity, reinsurance or retrocession policies, agreements, contracts, treaties, certificates or similar arrangements. Reinsurance Agreements shall include, but not be limited to, any agreement, contract, treaty, certificate or other arrangement that is treated as such by the applicable Department.

  • Ceding Commission shall have the meaning specified in Section 5.2.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.