Non-proportional reinsurance
In insurance, non-proportional reinsurance is the division of any loss between the primary insurer and the reinsurer . In non-proportional reinsurance, no proportional risks are ceded by actuarial units , but claims payments from the primary insurer are divided: in the event of a loss, the primary insurer pays a maximum of a certain amount (so-called priority) and the reinsurer pays the part that exceeds this priority (so-called over damage, layer or excess damage).
to form
- Individual excess of loss (Per Risk XL, also Excess of Loss (XoL) or Working XL)
- Accumulation excess (Cat XL)
- Annual excess loss (stop loss)
- Umbrella cover
- Maximum damage
- Second risk
See also
swell
- Peter Liebwein: Classic and modern forms of reinsurance. VVW, Karlsruhe 2000.