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Reinsurance Glossary

Home | A B C D E F G H I J K L M N O P Q R S T U V W X Y Z | Index

 

Gentlemen's Agreement
A concept often applied to reinsurance agreements which emphasize the reliance upon the mutual integrity and good will of the parties to the agreement in order to solve disputes.  See Honorable Undertaking.

Gross Line
The maximum limit a ceding company or reinsurer is willing to accept before taking credit for reinsurance coverage.  Such limits are usually expressed per insured, per line of business, etc.  See Net Line.

Guaranteed Cost Reinsurance
A form of reinsurance which has no adjustable or experience refund features.  The final premium rate for the coverage is exactly set forth and fixed in the contact.  Compare with Non-experience Rated.

  

  


  Glossary of Reinsurance Terms compiled by
the American Council of Life Insurers (ACLI) Reinsurance Committee
and presented by Central Security Life Insurance Company (CSLIC).

 

This text, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without the prior written permission of the publisher.

While a great deal of care has been taken to provide accurate, current, and authoritative information in regard to the subject matter covered in this reinsurance glossary, the ideas suggestions, general principles, conclusions, and any other information presented here are for educational purposes only. This reinsurance glossary is provided  with the understanding that it is neither designed nor intended to provide the reader with legal, accounting, investment, marketing, or other types of professional business management advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought.

 

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