cession
Pronunciation
This text is extracted from the Wiktionary and it is available under the CC BY-SA 3.0 license | Terms and conditions | Privacy policy 0.004
Pronunciation
- (British) IPA: /ˈsɛʃən/
cession
- That which is ceded. Insurance: (part of) a risk which is transferred from one actor to another.
- The reinsurance company accepted a 25% cession from the direct insurer.
- The giving up of rights, property etc. which one is entitled to.
- 1817, Walter Scott, Rob Roy, X:
- ‘Rashleigh, whose occasions frequently call him elsewhere, has generously made a cession of his rights in my favour; so that I now endeavour to prosecute alone the studies in which he used formerly to be my guide.’
- 1817, Walter Scott, Rob Roy, X:
This text is extracted from the Wiktionary and it is available under the CC BY-SA 3.0 license | Terms and conditions | Privacy policy 0.004