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

  • 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.

  • Reinsurance Recoverables are valued at the Best Estimate under Solvency II in proportion to the Quota share reinsurance in place.

  • Quota share reinsurance reduces financial exposure to adverse claim fluctuation for the company.

  • These schemes offer a wide choice of investment options, including a self-investment option.A.1.4 SIGNIFICANT BUSINESS OR OTHER EVENTS Quota share reinsurance treatyWith effect from 31 December 2019 the Company increased its quota share reinsurance with Legal & General Reinsurance Company Limited, another group subsidiary, from 10% to 25%.

  • Quota share reinsurance premiums are subject to an overrider commission in the form of an agreed discount, the rate of which for each policy year is agreed with UKDIA.

  • Quota share reinsurance allows the ceding company to increase the amount of business it writes while sharing the premiums and associated risks with the assuming company.

  • 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 is used to cede 50% of the earned premium (net of earned commission and inuring reinsurance earned premium) and incurred losses from the household book of business to the quota share reinsurers.


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 or other arrangement whereby one or more insurers, as reinsurers, assume liabilities under insurance policies or agreements issued by another insurance or reinsurance company or companies.

  • 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.

  • 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 Borrower or any of its Restricted Subsidiaries, 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 coinsurance in an amount up to $150,000,000) 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 herein.

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

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, 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 any Person charged with the administration, oversight or enforcement of any Insurance Regulation.

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