[P191]

per risk excess reinsurance

A reinsurance term. Reinsurance and retained limits apply per risk as opposed to per occurrence or in the aggregate. For example, Reinsurer A agrees to reinsure B's losses on four-family dwellings only if a loss per risk exceeds $50,000. So if a block of five B-insured four-family dwellings were lost in a fire, B must pay the first $50,000 on each of the five dwellings.