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Cedent

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CEDENT, civil law, Scotch law. An assignor. The term is usually applied to the assignor of a chose in action. Kames on Eq. 43.



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In addition, under a related treaty provision called the excess of policy limits clause, the cedent has coverage for its failure to settle within the policy limits of an underlying insured if a verdict is rendered in excess of those policy limits.
National General Insurance is an example in which the cedent entered all cessions in a register and notified the reinsurer within seven days that it was on the risk, thereby creating the reinsurer's liability.
A (PTU) (an affiliate and cedent of Polish Re) has been put under trusteeship.
 
 
 
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