Sponsored Topics. Milroy is a census-designated place (CDP) in the Kishacoquillas Valley of Mifflin County, Pennsylvania, United States. The population was 1,386 at the 2000 census. Milroy is located at 40Â°42â²50â³N 77Â°35â²7â³W / 40.71389Â°N 77.58528Â°W / 40.71389; -77.58528 (40.713936, -77.585275).
Legal Definition of discretionary. : left to discretion : exercised at one's own discretion; specifically : relating to the policy-making function of a public official â see also Federal Tort Claims Act â compare ministerial.
commutation agreement. An agreement between a ceding insurer and the reinsurer that provides for the valuation, payment, and complete discharge of all obligations between the parties under a particular reinsurance contract. Used if an insurer is withdrawing from underwriting a class of business. 1  Suggest an improvement or addition to the Insurance and Risk Management Glossary. 2  Buy a print version of the Insurance and Risk Management Glossary. 3  Link to the Insurance and Risk Management Glossary.