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LSDefine

Simple English definitions for legal terms

retrocession

Read a random definition: practice of law

A quick definition of retrocession:

Definition: Retrocession is when something is given back to its original owner or transferred to another party for further insurance. It can refer to returning a territory or jurisdiction, returning property to its rightful owner, or transferring a risk to another reinsurance company. Retrocession can also refer to the amount of risk that is transferred.

A more thorough explanation:

Definition: Retrocession refers to the act of ceding something back, such as a territory or jurisdiction. It can also refer to the return of a title or other interest in property to its former or rightful owner. Additionally, retrocession can refer to the process of transferring all or part of a reinsured risk to another reinsurance company, which is known as reinsurance of reinsurance. The amount of risk that is transferred is also referred to as retrocession.

  • After gaining independence, the country retroceded control of the territory to its former colonial power.
  • The retrocession of the property title to the rightful owner was a lengthy legal process.
  • The insurance company transferred a portion of the risk to another reinsurance company through retrocession.

These examples illustrate the different ways in which retrocession can be used. The first example shows how retrocession can refer to the act of ceding control of a territory or jurisdiction back to its former owner. The second example demonstrates how retrocession can refer to the return of a title or other interest in property to its rightful owner. The third example shows how retrocession can refer to the process of transferring risk from one insurance company to another through reinsurance of reinsurance.

retroactive law | retrocessionaire

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[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
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