facultative certificate

facultative certificate (fak-[schwa]l-tay-tiv).Insurance. A contract of reinsurance separately negotiated to cover risks under a single insurance policy. • Facultative reinsurance allows the reinsurer the “faculty” of assessing and possibly rejecting a particular risk (esp. if underwriting information is inadequate). [Cases: Insurance 3605. C.J.S. Insurance § 1504.]

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词条贡献者

资深译员王漾，毕业于一所旨在培养高级翻译专业人才的翻译院校，擅长翻译各类与雇主商业秘密相关的法律文件。