GLOSSARY
This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Excess of Loss Reinsurance (non-proportional)

An agreement to share specified losses. The reinsurer indemnifies the primary insurer for the amount of loss in excess of a specified retention. The retention amount can be stated as either a dollar amount or a percentage amount. The reinsurer does not participate in losses until a loss exceeds the amount retained by the primary insurers.