cession
/ˈsɛʃən/ noun
Forms cessions
- noun That which is ceded.
- noun A risk, or part of one, which is transferred from one actor to another. “The reinsurance company accepted a 25% cession from the direct insurer.”
- noun The giving up of rights, property etc. which one is entitled to.
Synonyms
Etymology
From Middle French cession, from Latin cessionem, from past participle of cēdere (“to yield”). By surface analysis, cede + -sion.
Webster’s 1913
- noun A yielding to physical force. [Obs.] Bacon.
- noun Concession; compliance. [Obs.]
Etymology [L. cessio, fr. cedere to give way: cf. F. Cession. See Cede.]
Sources: Wiktionary · WordNet 3.0 · Webster’s 1913 — from the Wiktionary entry “cession”, CC BY-SA 4.0. Details