What does Specific Excess Reinsurance mean? Read on to discover the definition & meaning of the term Specific Excess Reinsurance - to help you better understand the language used in insurance policies.
Specific Excess Reinsurance
Specific excess reinsurance (also called excess of loss insurance) is coverage that the reinsurer is responsible for covering in the event that the amount of a claim exceeds the limit imposed by the insurer (the ceding company). Depending on the agreement, the ceding company may also share the excess with the reinsurer.
We hope the you have a better understanding of the meaning of Specific Excess Reinsurance.