Cession vs Subletting - What's the difference?
cession | subletting |
That which is ceded. Insurance: (part of) a risk which is transferred from one actor to another.
The giving up of rights, property etc. which one is entitled to.
* 1817 , (Walter Scott), Rob Roy , X:
As a noun cession
is that which is ceded insurance: (part of) a risk which is transferred from one actor to another.As a verb subletting is
.cession
English
Noun
(en noun)- The reinsurance company accepted a 25% cession from the direct insurer.
- ‘Rashleigh, whose occasions frequently call him elsewhere, has generously made a cession of his rights in my favour; so that I now endeavour to prosecute alone the studies in which he used formerly to be my guide.’
