Intermediary clause

{
  "id": "MLC-T-INS-001897",
  "term": "Intermediary clause",
  "field": "Insurance and risk management",
  "definition": "A reinsurance contract clause governing money that passes through a reinsurance intermediary. Under it, a ceding insurer's payment to the intermediary counts as payment to the reinsurer, but a reinsurer's payment to the intermediary counts as payment to the ceding insurer only when the cedent actually receives it. The clause is distinct from the insolvency clause, which addresses the reinsurer's obligation if the ceding insurer fails.",
  "url": "https://mlchart.com/terminology/insurance/intermediary-clause/"
}