bank
An informal, noncontractual multiyear summing up of the total premiums ceded to reinsurers less losses paid by reinsurers over the duration of a reinsurance program—usually a catastrophe program.
bank
An informal, noncontractual multiyear summing up of the total premiums ceded to reinsurers less losses paid by reinsurers over the duration of a reinsurance program—usually a catastrophe program.
Additional Information
For example, cessions of $10,000 in premiums for each of 5 loss-free years would constitute a $50,000 bank.
