facultative reinsurance

noun

fa·​cul·​ta·​tive reinsurance
ˈfa-kəl-ˌtā-tiv-
: a separate reinsurance agreement drawn up for a single risk compare treaty reinsurance

Word History

Etymology

alluding to the faculty (i.e., power or prerogative) of the reinsurer to accept or reject the agreement

Dictionary Entries Near facultative reinsurance

factum

facultative reinsurance

fail

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Cite this Entry

“Facultative reinsurance.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/facultative%20reinsurance. Accessed 29 Nov. 2024.

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