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Simple English definitions for legal terms

retrocessional agreement

Read a random definition: jus immunitatis

A quick definition of retrocessional agreement:

A retrocessional agreement is a contract that allows for the insurance of insurance. This means that a company can transfer some of the risk it has taken on through reinsurance to another company, which in turn can transfer that risk to yet another company. It's like a game of hot potato, but with risk instead of a potato!

A more thorough explanation:

A retrocessional agreement is a type of reinsurance agreement. It involves a reinsurer (the retrocessionaire) agreeing to take on some of the risks that another reinsurer (the cedent) has already taken on. Essentially, the retrocessionaire is reinsuring the reinsurance.

For example, let's say that a primary insurer (the cedent) has taken on a large amount of risk for a particular policy. To reduce their exposure, they may seek out a reinsurer to take on some of that risk. However, the reinsurer may not want to take on all of that risk themselves, so they may enter into a retrocessional agreement with another reinsurer to share the risk.

Another example could be a situation where a reinsurer has taken on a large amount of risk from multiple cedents. To reduce their own exposure, they may seek out a retrocessionaire to take on some of that risk.

Overall, retrocessional agreements are a way for reinsurers to manage their own risk by sharing it with other reinsurers.

retrocessionaire | retrospective

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i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
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the devil
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20:50
yo splitterus are you in school already
20:50
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JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
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JumpySubsequentDolphin
21:35
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JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
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22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
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JumpySubsequentDolphin
22:39
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JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
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