What is the definition of Facultative reinsurance? | Dictionary.net

FACULTATIVE REINSURANCE

\fˈakəltətˌɪv ɹˌiːɪnʃˈʊ͡əɹəns], \fˈakəltətˌɪv ɹˌiːɪnʃˈʊ‍əɹəns], \f_ˈa_k_ə_l_t_ə_t_ˌɪ_v ɹ_ˌiː__ɪ_n_ʃ_ˈʊə_ɹ_ə_n_s]\

Definitions of FACULTATIVE REINSURANCE

1910 - Black's Law Dictionary (2nd edition)

Sort: Oldest first

When the insurer decides the risk that a policy should cover. The risk left over is shared with with another insurer. Refer to treaty reinsurance.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

Word of the day

Snake's-head

Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.

View More

Nearby Words