Latin phrase meaning 'from the beginning'

The calendar or accounting year in which the accident or loss occurred.

All expenses incurred by an insurance or reinsurance company which are directly related to acquiring insurance accounts (insured, or reinsured) for the company.

A valuation by an actuary of the present value of future liabilities using probability tables and other statistical techniques to evaluate the long-term business liabilities.

The conscious and deliberate submission by a reinsured company to a reinsurer of those risks, segments of risks, or coverages that appear less attractive for retention by the reinsured.

A form of reinsurance providing excess of loss cover for losses arising from any one event (or vessel) in excess of the reinsured's retention up to an agreed limit, but only when the aggregate of claims otherwise recoverable under the excess of loss treaty exceeds a stated amount.

A term used to describe the recalculation of prior years of loss experience to demonstrate what the underwriting results of a particular program would have been if the proposed program had been in force during that period.

An agreement between reinsured and reinsurer (usually for pro rata reinsurance, and usually for one year or longer), whereby the ceding company is obligated to cede certain risks as provided in the agreement and the reinsurer is obligated to accept. See also Obligatory Treaty.