FindLaw Legal Dictionary
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term:
Retention
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retention n
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1 : the act of retaining or the state of being retained
2 : the portion of the insurance on a particular risk not reinsured or ceded by the originating insurer
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.