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Simple English definitions for legal terms

retrocessional agreement

Read a random definition: cur. adv. vult

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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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
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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