THE COMPANY

Reinsurance
Terms

  • Manager

    In reinsurance, any person, partnership or corporation representing an insurer or reinsurer and underwriting for the insurer's or reinsurer's account.

  • MFL (Maximum Forseeable Loss)

    The anticipated maximum property fire loss that could result, given unusual or the worst circumstances with respect to the nonfunctioning of protective features, firewalls, sprinklers, a responsive fire department...as opposed to PML (Probable Maximum Loss), which would be a similar valuation but under the assumption that such protective features function normally.

  • Minimum Premium

    The least premium charge applicable, frequently used in excess of loss reinsurance contracts (per risk or catastrophe covers) which contain a provision that the final adjusted premium may not be less than a stated amount.

  • Mortgage Insurance

    A specialty line among financial guarantees which indemnifies a mortgage lender for loss on real estate loans resulting from default by a borrower if liquidation of the property proves insufficient to cover the outstanding principal.