A Clause in a reinsurance contract which stipulates that losses relating to risks which have a total insured value in excess of a given amount will not be protected under the contract.
In many contracts this Clause replaced the Target Risk Clause.
A Clause in a reinsurance contract which stipulates that losses relating to risks which have a total insured value in excess of a given amount will not be protected under the contract.
In many contracts this Clause replaced the Target Risk Clause.