单词 | catastrophe excess of loss |
释义 | catastrophe excess of loss in Insurance (kətæstrəfi ɛksɛs əv lɔs) phrase (Insurance: Reinsurance) excess, loss , loss Catastrophe excess of loss is a form of excess of loss reinsurance where the reinsurer agrees to reimburse the amount of a very large loss in excess of a particular sum. Catastrophe excess of loss reinsurance protects the insurance company against an accumulation of losses dueto single events such as major natural or human-made disasters. Catastrophe excess of loss reinsurance was developed after the San Francisco earthquake in 1906 to protect insurers againstexceptional loss. Catastrophe excess of loss is a form of excess of loss reinsurance where the reinsurer agrees to reimburse theamount of a very large loss in excess of a particular sum. |
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