Attachment basis

{
  "id": "MLC-T-INS-000484",
  "term": "Attachment basis",
  "field": "Insurance and risk management",
  "definition": "The rule that determines which losses a reinsurance contract or policy responds to, in terms of timing. The main bases are losses occurring during the period, risks attaching during the period, and claims made during the period. A treaty written on a risks-attaching basis, for example, covers policies incepting within the treaty year even if the losses occur in the following year.",
  "url": "https://mlchart.com/terminology/insurance/attachment-basis/"
}