What does AGGREGATE EXCESS OF LOSS REINSURANCE mean?

AGGREGATE EXCESS OF LOSS REINSURANCE meaning in Law Dictionary

REINSURANCE arrangement where in fact the REINSURER gives the CEDING INSURER with coverage on numerous small losses as a result of numerous guidelines, once an agreed ATTACHMENT point has-been achieved.


AGGREGATE EXCESS OF LOSS REINSURANCE meaning in Insurance Dictionary

a kind of reinsurance that states participation by the reinsurer whenever aggregate extra losses for main insurer exceed a particular reported retention degree. See also Aggregate extra insurance.