Facultative Insurance
Facultative insurance, also known as facultative reinsurance, is a type of reinsurance where the ceding company (the primary insurer) and the reinsurer negotiate coverage for individual risks on a case-by-case basis.
Insurance Glossary
Glossary/Encyclopedia of insurance terms. In addition to the brief description of insurance terms, we have also provided detailed explanation of each term. By selecting ‘More Details’ in each term, you can view the detailed explanation of the term with examples.
Retrocession
Retrocession is a process in the reinsurance industry where a reinsurer transfers some of its assumed risks to another reinsurer.
Treaty
A reinsurance contract between an insurance company and a reinsurer.