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单词 EXCESS OF LOSS
释义

A REINSURANCE arrangement where a REINSURER assumes RISKS and returns in specific horizontal or vertical layers; depending on the magnitude of losses and the sequence and level of ATTACHMENT a reinsurer may or may not face some CESSION and allocation of losses on each loss event. See also PROPORTIONAL AGREEMENT, QUOTA SHARE, SURPLUS SHARE.

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更新时间:2024/10/27 7:27:16