commutation agreement
A commutation agreement is an agreement between a ceding insurer and the reinsurer that provides for the valuation, payment, and complete discharge of all obligations between the parties under a particular reinsurance contract.
commutation agreement
A commutation agreement is an agreement between a ceding insurer and the reinsurer that provides for the valuation, payment, and complete discharge of all obligations between the parties under a particular reinsurance contract.
Additional Information
It is used if an insurer is withdrawing from underwriting a class of business.
