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| VARIABLE QUOTA SHARE |
A reinsurance treaty whereby the REINSURED is bound to cede and the REINSURER is bound to accept a share of all risks falling within the scope of the treaty. The actual share ceded by the reinsured is subject to a minimum and a maximum. In essence it is a hybrid between a quota share treaty. |
| VARIANCE LOADING |
A LOADING applied to the premium calculated from the statistically predicted claims experience to allow for possible adverse fluctuations from the statistically predicted level. |