Treaty

{
  "id": "MLC-T-INS-003367",
  "term": "Treaty",
  "field": "Insurance and risk management",
  "definition": "A formal agreement between a ceding insurer and a reinsurer outlining the terms and conditions under which a specified class or portfolio of risks will be reinsured. This agreement typically covers all risks that fall within the defined parameters, rather than individual risks. It establishes the automatic transfer of risk and premium.",
  "url": "https://mlchart.com/terminology/insurance/treaty/"
}