Create reinsurance cession

Defines a reinsurance cession for 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. The reinsurer assumes part of the risk initially assumed by another insurance company. An insurance company buys reinsurance for its own protection. The risk of loss is spread so a disproportionately large loss under a single policy does not fall on one company.

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Idemptopotent Operation

This operation supports idempotency by means of idempotency keys. To learn more, see Idempotent Requests.

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