Property per risk

A form of excess of loss reinsurance which, subject to a specified limit, indemnifies the ceding company against the amount of loss in excess of a specified retention for each risk involved in each occurrence.

• Normal max line of $30M (per occurrence) any one program if EQ and Hurricane are excluded
• Normal max line of $10M (per occurrence) if exposed to EQ and Hurricane

Property pro rata

With property pro rata contracts, the reinsurer is required to share the premiums as well as the losses and expenses in an agreed proportion with the primary insurer.

• Normal max line of $30M on an occurrence basis
• No “uncapped” proportional