reinsurance treaty.A contract of reinsurance (usu. long-term) covering different classes or
lines of business of the reinsured (such as professional liability, property, etc.) and obligating the
reinsurer in advance to accept the cession of covered risks. • Rather than receive individual notice
of each specific claim covered, the treaty reinsurer will generally receive periodic reports
providing basic information on the losses paid. — Also termed treaty of reinsurance. See
BORDEREAU. Cf. FACULTATIVE CERTIFICATE. [Cases: Insurance 3593.] [Blacks Law 8th]