Q

QUOTA REINSURANCE AGREEMENT – according to provisions of the present agreement, an insurance company assigns to reinsurance all the risks of a certain kind of insurance or a group of adjacent insurances in a share coordinated with a reinsurer without any exceptions. In this very share the reinsurer is being assigned a due premium and he / she indemnifies a reinsured all the losses paid in the same share.

QUOTATION – in insurance, - a premium rate, per which an insurer is ready to accept the corresponding risk. Quotation can be received from several insurers for the purpose of more acceptable insurance conditions establishment.