MLchartDataset catalogue

Profit commission

Term · Insurance and risk management · MLC-T-INS-002708

A contingent payment made by a reinsurer to a ceding insurer, or by an insurer to an agent or broker, based on the profitability of the business ceded or placed. This commission incentivizes careful underwriting and effective claims management, as it is calculated after deducting claims and expenses from premiums. It aligns the financial interests of the parties involved.

Table 1. Record
IdentifierMLC-T-INS-002708
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002708",
  "term": "Profit commission",
  "field": "Insurance and risk management",
  "definition": "A contingent payment made by a reinsurer to a ceding insurer, or by an insurer to an agent or broker, based on the profitability of the business ceded or placed. This commission incentivizes careful underwriting and effective claims management, as it is calculated after deducting claims and expenses from premiums. It aligns the financial interests of the parties involved.",
  "url": "https://mlchart.com/terminology/insurance/profit-commission/"
}

Record 2,756 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.