What Is the Difference Between Pro-Rata Reinsurance and Excess of Loss

question 19

Essay

What is the difference between pro-rata reinsurance and excess of loss reinsurance?

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Definitions:

Implied Employment Contract

An implied employment contract suggests terms of employment based on actions, conduct, or situational circumstances, rather than a written or verbal agreement.

Whistleblower Protection Act

Legislation intended to shield individuals who report illegal or unethical activities within their organization from retaliation.

Breach Of Contract

The failure of one or more parties to fulfill the obligations stated in a contract without a lawful excuse.

Employment-At-Will Doctrine

A legal principle allowing the employment relationship to be terminated by either the employer or the employee at any time, for any reason not prohibited by law.