reinsurance treaty

reinsurance treaty. A contract of reinsurance (usu. long-term) covering different classes or lines of business of the reinsured (such as professional liability, property, etc.) and obligating the reinsurer in advance to accept the cession of covered risks. • Rather than receive individual notice of each specific claim covered, the treaty reinsurer will generally receive periodic reports providing basic information on the losses paid. — Also termed treaty of reinsurance. See BORDEREAU. Cf. FACULTATIVE CERTIFICATE. [Cases: Insurance 3593.]

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词条贡献者

法律翻译Walker，在一家美国白鞋所担任专职法律翻译，专注翻译各类与特拉华州业务有关的法律文件。