THOUGHT FOR THE DAY

Science

Facts are the air of scientists. Without them you can never fly.

- Linus Pauling

TOPIC OF THE DAY

Retrocession

The term “retrocession” is used in two very different ways. In the financial world, it refers to a situation in which one firm which specializes in reinsurance agrees to take on some of the risk for another reinsurance company. This is designed to reduce risk by spreading it out, reducing the liability burden for insurance companies. The term can also be used to refer to the ceding of land, usually involving the return of land to the original owner.

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