- Ransomware and Cyber Extortion Fidye Yazılımı ve Siber Gasp
- A cyberattack in which attackers encrypt an organisation's systems or data and demand a ransom to restore access. Cyber policies typically cover the ransom payment, incident response costs, system restoration expenses and resulting business interruption losses.
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- Reinstatement Value Yenileme (Reinstatement) Değeri
- An insurance valuation basis under which the insurer pays the cost of reinstating the damaged property to the same condition as new, without deduction for wear and tear. Also called replacement value or new-for-old cover; the standard basis for fire and property all-risk policies.
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- Reinsurance Reasürans
- An arrangement by which an insurance company (the cedant) transfers all or part of its assumed risk under one or more policies to another insurer or reinsurer. The cedant pays a reinsurance premium and the reinsurer indemnifies the cedant for its share of losses. Reinsurance stabilises loss ratios, increases underwriting capacity and protects the cedant's solvency against catastrophic events.
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- Reinsurance Pool Reasürans Havuzu
- A collective arrangement where multiple insurers or reinsurers share large or systemic risks, such as nuclear, terrorism or catastrophe perils. Each member participates in the pool's total capacity and loss liabilities in a defined share, enabling risks that no single entity could absorb.
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- Reinsurer Reasürör
- The entity that accepts risk ceded by the cedant under a reinsurance treaty or facultative placement, in exchange for a reinsurance premium; also called the assuming company. A reinsurer may in turn cede part of its assumed risks via retrocession.
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- Renewable Energy Insurance Yenilenebilir Enerji Sigortası
- Insurance for solar (PV and CSP), wind (onshore and offshore), hydro and bioenergy assets against construction, operational and performance risks. Production yield cover and revenue guarantee insurance are key differentiators for the renewable energy sector.
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- Retention Retansiyon
- The amount of risk or liability that the cedant retains for its own account after ceding to reinsurers. The reinsurer's obligation is triggered only after the cedant's retention has been exhausted. Retention levels are set with reference to the cedant's capital, premium income, loss experience and regulatory capital requirements. The form of retention varies by treaty type: in quota share it is a fixed percentage; in surplus share a fixed monetary amount per risk; in excess of loss (XL) a fixed monetary amount per occurrence.
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- Retroactive Date Retroaktif Tarih
- In a claims-made policy, the retroactive date defines the earliest date from which covered acts or omissions will be considered for coverage. A claim made during the policy period for an act occurring before the retroactive date will not be covered. To protect against gaps, insureds typically seek a retroactive date as far back as possible, ideally to first policy inception.
- Retrocession Retrosesyon
- The process by which a reinsurer transfers part of the risk it has assumed from a cedant to another reinsurer (the retrocessionaire). Retrocession is the reinsurance of reinsurance: the cedant cedes to a reinsurer, which in turn cedes to a retrocessionaire. This mechanism spreads risk across the global reinsurance market.
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- Retrocessionnaire Retrosesyoner
- The entity that accepts risk ceded by a reinsurer under a retrocession agreement; commonly described as the reinsurer's reinsurer. Retrocessionaires provide additional capacity in the international reinsurance market and facilitate the spreading of systemic risk.
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- Run-Off Coverage Run-Off Kapsamı
- An extension of a claims-made policy that provides coverage for claims made after the policy expiry date, arising from acts committed during the original policy period. Run-off (or extended reporting period) coverage is critical when a company ceases operations, merges or changes insurer, to preserve protection for prior-period acts. Also known as tail cover or an extended reporting period (ERP).
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