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.
Quota share reinsurance means that form of reinsurance in which the reinsurer assumes a fixed percentage of the insured risk.
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.

Examples of Quota share reinsurance in a sentence

  • Quota share reinsurance is also used to manage the Syndicate‘s net exposure to classes of business where the Syndicate’s risk appetite is lower than the efficient operating scale of the class of business on a gross of reinsurance basis.

  • Quota share reinsurance BAC enters into quota share reinsurance transactions with third-party reinsurers.

  • Quota share reinsurance involves one or more reinsurers taking a stated percent share of each policy that an insurer produces (“writes”).

  • Quota share reinsurance allows an insurer to retain some risk and premium while sharing the rest with an insurer up to a predetermined maximum coverage.

  • Quota share reinsurance may be allowed for all insurers in respect of specific portfolios/products subject to appropriate controls.

  • Quota share reinsurance is purchased to provide protection against claims arising either from individual large claims or aggregation of losses.

  • Quota share reinsurance is typically used to reduce the Group’s exposure to aviation deductible business.

  • Debtors arising out of reinsurance operations 20182017 £000£0001955 Quota share reinsurance debtor21,63818,651Due from intermediaries 34,218 20,213 55,856 38,864 15.

  • Quota share reinsurance is also used to manage the Group‘s net exposure to classes of business where the Group’s risk appetite is lower than the efficient operating scale of the class of business on a gross of reinsurance basis.

  • The settlement was reached on June 23, 2003 in the amount of $500,175, including interest.


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."

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 means [REDACTED]. ]

  • Insurance Contracts means all contracts and policies of insurance and re-insurance maintained or required to be maintained by or on behalf of any Grantor under the Loan Documents.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

  • quota means the number calculated in accordance with rule STV46,

  • Reinsurers shall be understood to mean “Reinsurers”, “Underwriters” or whatever other term is used in the attached reinsurance document to designate the reinsurer or reinsurers.

  • Coinsurance means that you pay a percent of the total cost of the drug each time you fill a prescription.

  • Ceding Company has the meaning set forth in the preamble.

  • Ocean marine insurance means insurance against loss of or damage to:

  • Unemployment Insurance means the contribution required of Vendor, as an employer, in respect of, and measured by, the wages of its employees (or subcontractors) as required by any applicable federal, state or local unemployment insurance law or regulation.

  • In-Orbit Insurance means, with respect to any Satellite (or, if the entire Satellite is not owned by the Issuer or any Restricted Subsidiary, as the case may be, the portion of the Satellite it owns or for which it has risk of loss), insurance (subject to a right of co-insurance in an amount up to $150.0 million) or other contractual arrangement providing for coverage against the risk of loss of or damage to such Satellite (or portion, as applicable) attaching upon the expiration of the launch insurance therefor (or, if launch insurance is not procured, upon the initial completion of in-orbit testing) and attaching, during the commercial in-orbit service of such Satellite (or portion, as applicable), upon the expiration of the immediately preceding corresponding policy or other contractual arrangement, as the case may be, subject to the terms and conditions set forth in this Indenture.

  • Reinsurance intermediary means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Reinsurer has the meaning set forth in the preamble.

  • Insurance transaction means any transaction involving insurance primarily for personal, family, or household needs rather than business or professional needs that entails:

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;

  • Credit unemployment insurance means insurance:

  • Retrocession Agreement means any agreement, contract, treaty or other arrangement whereby one or more insurers or reinsurers, as retrocessionaires, assume liabilities of reinsurers under a Reinsurance Agreement or other retrocessionaires under another Retrocession Agreement.

  • insurance broker means an insurance brokerage firm,

  • Reinsured Policies has the meaning assigned to it in the Reinsurance Agreement.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Insurance Regulator means, with respect to any jurisdiction, the Governmental Authority charged with the supervision of insurance companies in such jurisdiction.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.