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.]

---

词条贡献者

资深译员姚坚，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与私募资本有关的法律文件。