This form of reinsurance, also known as Treaty Reinsurance, is one whereby an insurer must cede that portion of a risk that is above the limit established by contract, and the reinsurer must accept all risks ceded to it.
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An individual appointed by a Life or Health insurer to administer its business in a given territory. He is responsible for building his own agency and service force, and is compensated on a commission basis, although he possibly has some additional expense allowances.