Cutoff

{
  "id": "MLC-T-INS-001058",
  "term": "Cutoff",
  "field": "Insurance and risk management",
  "definition": "A basis of terminating a reinsurance treaty under which the reinsurer has no liability for losses that occur after the termination date, even on policies the ceding company wrote earlier and still has in force. Unearned premium on that in-force business is usually returned to the cedent, in contrast with a run-off termination, where the reinsurer stays liable until those policies expire.",
  "url": "https://mlchart.com/terminology/insurance/cutoff/"
}