Peter Pan serves over 100 communities throughout the northeast corridor, with daily express service including Boston, New York, Philadelphia, Baltimore and Washington, DC. The company transports over three million passengers a year and its fleet of more than 300 buses travels over 25 million miles annually.
Definition of EXCESS OF LOSS (XOL) AGREEMENT: A REINSURANCE arrangement where a REINSURER assumes RISKS and returns in specific horizontal or vertical layers; depending on the magnitude of losses and t
Typically, as the reinsurer pays losses ceded to the reinsurance contract, the limit of the reinsurance contract depletes. Once the payment of losses reaches the limit, there is no more reinsurance recovery available. Just like an insurance policy exhausting its limits, a reinsurance contract with a per occurrence or aggregate limit may exhaust as well.