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Cession

Noun

Definitionen

1.NounThat which is ceded. A risk, or part of one, which is transferred from one actor to another.
"The reinsurance company accepted a 25% cession from the direct insurer."
2.NounA risk, or part of one, which is transferred from one actor to another.
"The reinsurance company accepted a 25% cession from the direct insurer."
3.NounThe giving up of rights, property etc. which one is entitled to.
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