noun
: reinsurance under a general agreement that automatically reinsures in accordance with its terms all risks of a given class to a predetermined extent as soon as they are insured by the direct underwriter
noun
: reinsurance under a general agreement that automatically reinsures in accordance with its terms all risks of a given class to a predetermined extent as soon as they are insured by the direct underwriter
Webster's New International English Dictionary. Новый международный словарь английского языка Webster. 2012