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
To lessen the effect of large claims and to provide a measure of accident frequency, in experience rating, the total losses are separated into: excess losses and; primary portions. The actual excess loss is the difference between the total incurred loss (limited to the accident limit) and the actual primary loss. Under the Revised Experience Rating Plan, actual primary losses are determined as follows: All losses of $5,000 or less are considered primary.