- Facultative Reinsurance Fakultatif Reasürans
- A form of reinsurance in which each risk is offered to and individually accepted or declined by the reinsurer. Unlike treaty reinsurance, the reinsurer has no obligation to accept and may negotiate terms risk by risk. Facultative placements are typically used for large, unusual or capacity-exceeding risks that fall outside existing treaty arrangements.
- Full explanation →Service page →
- Franchise (Insurance) Franchise (Sigorta)
- A threshold in an insurance policy above which the insurer is liable for the full amount of the loss, including the franchise amount itself. If the loss is below the franchise threshold, the insurer pays nothing. Unlike a deductible (where the insured always bears the deductible amount), under a franchise the insurer pays everything once the threshold is crossed. Common in marine cargo and motor insurance.
Looking for expert advice?
Neolife is an independent, SEDDK-licensed insurance and reinsurance broker in Turkey, acting exclusively in the client's interest.
Free Consultation →