the terms of an insurance policy or reinsurance agreement: •An amount representing the losses paid plus the change in outstanding loss reserves within a given accounting period [accounting definition] Losses paid – The total checks or drafts issued in settlement of claims under insurance … Property per risk or casualty XOL 4. This definition appears frequently and is found in the following Acronym Finder categories: Business, finance, etc. It also looks set to grow, with potential market capacity per transaction being well over $500 million, and underwriters entering the market for this type of insurance in growing numbers. Search options; ... Insurance, Business, ... Search for abbreviation meaning, word to abbreviate, or category. Aggregate Stop Loss 1. Captive Insurance Company Reports. Facultative reinsurance is purchased by a primary insurer to cover a single risk—or a block of risks—held in the primary insurer's book of business. For this reason, the XOL solutions are also referred to as “catastrophe coverage.” Allianz Insurance plc Excess of Loss Fact Sheet Our Excess of Loss cover is designed for a wide range of businesses, from small local SMEs up to the largest multi-nationals. Top XOL abbreviation meanings updated December 2020. All Acronyms. Clash Reinsurance: A type of reinsurance that provides additional coverage to the insurance company in the event that one casualty loss event results in … See other definitions of XOL XoL can be an extremely effective tool in helping companies to retain greater independence, rely on secure and stable cover and enhance operational performance. It also purchases a CAT XL cover of … Examples could include: • a small food packaging company that wins a contract with a large food manufacturer, who stipulates they must have a £20m Product Liability limit Aggregate Catastrophe 6. Since 1977, CICR has been educating captive practitioners on diverse captive topics such as fronting and reinsurance, collateral pressures and options, tax, legal matters and claims, domicile challenges and issues, regulatory developments, and so forth. With reinsurance, the company passes on ("cedes") some part of its own insurance liabilities to the other insurance company. Future growth in XoL credit insurance. Pro Rata 3. Catastrophe (per occurrence) 5. Catastrophe Excess Reinsurance: Insurance for catastrophe insurers. List of 5 XOL definitions. Shortcuts for power users - examples. The XOL coverage concept fundamentally distinguishes itself from the classic credit insurance solution in that it only covers bad debts that can endanger the existence of a company, or can at least have a significant impact on its earnings situation. It leverages international risk management with high discretionary limit (DCL) and low policy administration and harmonizes bad debt protection worldwide. Example; Insurance Company “X” has an 8-line surplus treaty with a net retention of 1,000,000 any one risk. Compared to some other forms of insurance, the market for XoL credit insurance for banks is relatively new. Facultative Reinsurance 2. Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event.