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Property Bldg. Laws Safeguards General Liability Emp, Benefit Liab. Employer Liability Aircraft Products Liab. Sexual Harassment Dir. & Officers Liab. Professional Liability Elect. Data Proc. Cov. Kidnap or Ransom
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[F008]
Reinsurance effected item by item and accepted or declined by the reinsuring company after scrutiny, as opposed to reinsurance effected by treaty. The word facultative connotes that both the primary insurer and the reinsurer have the faculty or option of accepting or rejecting the individual submission, as distinguished from the pre-set obligation to cede and accept already agreed upon by the parties in treaty reinsurance.
Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100