Creates and applies a reinsurance cession to the specified policy.

A reinsurance cession is a contract or agreement between two insurers that involves the purchase of insurance by an insurance (ceding) company from another insurance (reinsurance) company for the purpose of spreading risk and reducing the loss from a catastrophe event.

This operation applies a reinsurance cessions to a policy. Reinsurance cessions can also be defined at the location-level.

The required type parameter specifies whether the reinsurance cession is a facultative cession or a treaty cession.

• If facultatve, the reinsurer has the option to accept or decline risk applied to a location or policy.
• If treaty, the reinsurer does not have the option to accept or decline risk.