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Cession

Cession

Submitted by jeffrey on Fri, 06/17/2016 - 18:52
  1. The unit of insurance passed (or ceded) to a proportional reinsurer by a ceding company or cedant that issued a policy to the original insured. A cession may accordingly be the whole or a portion of single risks, defined policies, or defined divisions of business, all as agreed in the reinsurance contract.
  2. The act of ceding where such act is necessary to invoke the proportional reinsurance protection.