Professionals: Short-term » Knowledge Base

A Common Household Oil Fire »			Accident Fact Kit »
Arbitration »			Artificial Intelligence »
Average and Under-Insurance »			Basic Business Guidelines (ex MM III) »
Big Data and the Internet of Things »			Black Economic Empowerment (BEE) »
Blockchain »			Case Law »
Climate Change »			Companies Act 71 of 2008 »
Company Results »			Competition Issues »
Compliance Updates »			Conflict of Interest »
Construction and Engineering Insurance »			Consumer Protection Act 2008 »
Contract Certainty »			CPI Workshops: Insurance Pricing Seminar 2006 »
Credit Insurance »			Cyber Risks »
Demarcation between Health Insurance Policies and Medical Schemes »			Disability Claims »
Drones and Insurance »			Duty of Good Faith and Disclosure »
Education and Training »			Ethics in Business »
Extra Compensatory Damages »			FAIS »
Financial Condition Reporting »			Financial Sector Charter »
Flood Damage »			Fraud »
Genetic Testing »			Global Insurance Markets »
Governance »			How Sovereign Ratings Impact on Insurance »
IBNR Reserves »			Industry Codes and Standards »
Industry Results »			Industry Structure »
Injury in the Workplace »			Insurance Crime & Fraud Prevention »
Insurance Cycles »			Insurance Industry Analysis »
Insurance Industry Surveys »			Insurer Capital »
Intellectual Property »			Interesting and Unusual Risks »
Intermediaries Liability Exposures »			Investing in Africa »
Liability »			Marine Insurance »
Mergers and Acquisitions Insurance »			Micro-insurance »
Motor Vehicles »			Multi National Insurance Programmes »
National Development Plan »			New Financial Sector Framework - March 2011 »
Newsletters »			Ombudsman for Short-term Insurance »
Other Glossaries »			Piracy Risks »
Political Risks »			Power Outages »
Professional Indemnity »			Professionalism »
Protection of Personal Information »			Re-insurance »
Regulatory Environment »			Regulatory Reform »
Reputation »			Retail Distribution Review »
Risk Management »			Road Accident Fund Act (RAF) »
Solvency Assessment and Management (SAM) »			The English Insurance Act 2015 »
The Insurance Act »			Treating Customers Fairly »
Tsunami »			Underwriting Managers »
WITS Insurance and Risk Management Course »

From The Glossary »

First Surplus Treaty:

The name given to an ordinary surplus treaty, which means that the surplus must be allotted to the treaty first and in priority to any other surplus reinsurance treaty. Sometimes a second surplus treaty, and a third surplus treaty are in place and these would receive a share of the surplus only after the first surplus treaty had received the full amount to which it was entitled.

More Definitions »