Clash Coverage
Definition
Reinsurance protection against multiple policies or treaties being triggered by a single catastrophic event. Protects against cumulative losses across different contracts.
Practical Example
Clash cover protecting against a single event triggering liability, property, and workers comp treaties.
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Related Terms
Concentration of exposures in a geographic area or to a single risk that could result in large aggregate losses from one event.
Catastrophe Excess of Loss reinsurance - A non-proportional reinsurance structure providing coverage for catastrophic events exceeding a specified retention. Commonly used for natural catastrophes like hurricanes and earthquakes.