What Does Carryover Provision Mean?

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What does Carryover Provision mean? Read on to discover the definition & meaning of the term Carryover Provision - to help you better understand the language used in insurance policies.

Carryover Provision

Carryover Provision

A multiyear rating device found in some reinsurance agreements that provides that a loss to reinsurers in a given time period may be applied to the results of a previous period (loss carryback) or may be applied to a future period (loss carryforward).

We hope the you have a better understanding of the meaning of Carryover Provision.

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