Quota share
A quota share cedes a percentage, not a feeling
Exclusive BX Meridian memo on a quota-share treaty: the figure, the condition, and the instruction.
Treaties
Reinsurance treaties and the loss behind the premium.
Excess
Excess of loss starts at an attachment, not at zero
Exclusive BX Meridian memo on an excess-of-loss treaty: the figure, the condition, and the instruction.
Facultative
A facultative certificate covers one risk
Exclusive BX Meridian memo on a facultative certificate: the figure, the condition, and the instruction.
Collateral
Unauthorized reinsurance needs collateral
Exclusive BX Meridian memo on a reinsurer trust: the figure, the condition, and the instruction.
Commutation
A commutation turns an open loss into a number
Exclusive BX Meridian memo on a commutation: the figure, the condition, and the instruction.
Hours
An hours clause decides whether two storms are one loss
Exclusive BX Meridian memo on an hours clause: the figure, the condition, and the instruction.
Commission
A sliding commission moves with the loss ratio
Exclusive BX Meridian memo on a sliding-scale commission: the figure, the condition, and the instruction.
Fortunes
Follow-the-fortunes is not a promise to pay every settlement
Exclusive BX Meridian memo on a follow-the-fortunes clause: the figure, the condition, and the instruction.
Reinstatement
A reinstatement premium is the price of a second limit
Exclusive BX Meridian memo on a reinstatement premium: the figure, the condition, and the instruction.
Silent cyber
A silent cyber exclusion can sit inside an old treaty
Exclusive BX Meridian memo on a cyber exclusion on a treaty: the figure, the condition, and the instruction.