Insurance
Large Loss Notification to Reinsurer
Recording the notified share of a large loss to be recovered from reinsurers.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Reinsurance Recoverable — Large Loss | Asset (+) | 300,000.00 | - |
| Claims Expense (Net of Reinsurance) | Expense (-) | - | 300,000.00 |
💡 Accountant's Note
Losses above the retention threshold are notified to reinsurers immediately. The recoverable is set up once the reinsurer acknowledges the notification. Treaty terms determine automatic vs. facultative recovery.
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