An obligatory treaty is a reinsurance treaty between an insurer and a reinsurer (usually involving pro rata reinsurance), in which the insurer agrees to automatically cede all business that falls within the terms of the treaty.
An obligee is person or organization to whom another party (the "obligor") owes an obligation. In risk management, the most common use of this term is in bonding. For example, under a performance bond, the obligee is the project owner for whom the bonded contractor is required to perform the specified work.
An obligor is a person or organization that is bound by an obligation to another. In risk management, the most common use of this term is in bonding. For example, under a performance bond, the obligor is the contractor who supplies a bond to a project owner guaranteeing its performance of the contract.
Occupational disease (OD) is any abnormal condition or disorder, other than one resulting from an occupational injury, that is caused by, or alleged to be caused by, exposure to environmental factors associated with employment, including acute and chronic illnesses or diseases that may be caused by inhalation, absorption, ingestion, or direct contact.