Retro definition

Retro means that payment is based on supply of the season that has just finished (on 31 May).
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Retro. This is additional premium payable either to the Reinsurer or to the Ceding company. The Retro is payable to the Reinsurer if the amount calculated as a Retro is positive. The Retro is payable to the Ceding company if the amount calculated as a Retro is negative. For Reinsurance Periods 2002 and 2003, the Retro equals the Experience Account prior to its adjustment for the current year's Retro Minus 4% of Premium Payable for calendar year's 2002 and 2003, respectively. But, the absolute value of Retro is not to exceed the difference between cost of insurance charges (net of loads) for the reinsured portion from group policyholders during the Reinsurance Period and the Premium Payable for that period. For Reinsurance Periods following 2003, the Retro equals the Experience Account prior to its adjustment for the current year's Retro. But, the absolute value of the Retro is not to exceed the difference between cost of insurance charges (net of loads) for the reinsured portion from group policyholders during the Reinsurance Period and the Premium Payable for that period.
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Retro means the payment goes back to the effective date of roster changes and adjusts based on the new information.
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Examples of Retro in a sentence

  • The "Retro Date" must be shown, and must be on or before the date of the Agreement or the beginning of Agreement performance by CONSULTANT.

  • If coverage is cancelled or non-renewed, and not replaced with another claims made policy form with a "Retro Date" prior to the contract effective date, CONSULTANT must purchase "extended reporting" coverage for a minimum of one (1) year after completion of the Agreement.

  • The "Retro Date" must be shown, and must be on or before the date of the Agreement or the beginning of Agreement performance by CONTRACTOR.

  • Said distribution is at the discretion of the Association Retro Oversight Committee.

  • The Association, its Board of Directors, its Retro Oversight Committee, other Members, and ERNW shall not use confidential information about the Members other than for the purposes of administering and managing the Program.

  • In the event a Member does not maintain their Association membership in good standing, any refund they are entitled to may be used for any purpose the Association’s Retro Oversight Committee deems appropriate.

  • Said distribution is at the discretion of the Association’s Retro Oversight Committee.

  • If coverage is cancelled or non-renewed, and not replaced with another claims made policy form with a "Retro Date" prior to the contract effective date, the CONTRACTOR must purchase "extended reporting" coverage for a minimum of one (1) year after completion of the Agreement.

  • If coverage is cancelled or non-renewed, and not replaced with another claims made policy form with a "Retro Date" prior to the contract effective date, the CONCESSIONAIRE must purchase "extended reporting" coverage for a minimum of one (1) year after completion of the Agreement.

  • The "Retro Date" must be shown, and must be on or before the date of the Agreement or the beginning of Agreement performance by CONCESSIONAIRE.

Related to Retro

  • 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;

  • Retrospective review means a review of medical necessity conducted after services have been provided to a patient, but does not include the review of a claim that is limited to an evaluation of reimbursement levels, veracity of documentation, accuracy of coding, or adjudication for payment.

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

  • Insurance producer means a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance.

  • Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.