Excess of loss

{
  "id": "MLC-T-INS-001376",
  "term": "Excess of loss",
  "field": "Insurance and risk management",
  "definition": "A form of reinsurance where the reinsurer pays losses that exceed a specified retention limit or deductible for the ceding insurer. The ceding insurer retains losses up to this predetermined amount, and the reinsurer covers the portion of the loss above it. This arrangement provides protection against large, infrequent losses and is distinct from proportional reinsurance.",
  "url": "https://mlchart.com/terminology/insurance/excess-of-loss/"
}