term:

Treaty Reinsurance

treaty reinsurance n

: reinsurance under a general agreement that automatically reinsures in accordance with its terms all risks of a given class to a predetermined extent as soon as they are insured by the direct underwriter compare facultative reinsurance

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.