Glossary
Reinsurance wheel refers to a procedure for retroceding individual life insurance risks in excess of a reinsurer's own retention to a group of retrocessionaires (up to their subscribed limit) in rotation, the order being determined by their positions as spokes on an imaginary wheel.
Read MoreReinsurer's margin refers to the "profit and administration" factor of the reinsurer, generally calculated on gross cession.
Read MoreReissuance restatement refers to a financial restatement revision that pertains to a serious, material accounting error and that therefore requires a reissuance of a past financial statement.
Read MoreRelated claims provisions state that if more than one claim results from a single wrongful act, and if claims are made during more than one policy period, the insured is entitled to the limit applicable when the first claim was made.
Read MoreRelated party insurance income (RPII) refers to premium income to an offshore insurance company from policies issued to shareholders of the company.
Read MoreThe related product liability exclusion is an exclusion of liability found in some architects and engineers (A&E) professional liability policies precluding coverage of claims involving products that are manufactured or designed by the insured.
Read MoreRelated risk refers to the risks of insureds owned by or affiliated with the owner(s) of or a participant(s) in a captive.
Read More