Aggregate excess of loss reinsurance

{
  "id": "MLC-T-INS-000368",
  "term": "Aggregate excess of loss reinsurance",
  "field": "Insurance and risk management",
  "definition": "A type of reinsurance where the reinsurer indemnifies the ceding insurer for the amount by which the ceding insurer's total losses for a specific class of business exceed a predetermined aggregate retention during a policy period. This protects the ceding insurer from an accumulation of losses, even if individual losses do not breach a per-occurrence retention. It provides protection against adverse loss development over time.",
  "url": "https://mlchart.com/terminology/insurance/aggregate-excess-of-loss-reinsurance/"
}