denoting a form of reinsurance in which the reinsurer has no obligation to accept a particular risk nor the insurer to reinsure, terms and conditions being negotiated for each reinsurance
4. biology
able to exist under more than one set of environmental conditions
a facultative parasite can exist as a parasite or a saprotroph
Compare obligate (sense 4)
5.
of or relating to a faculty
Derived forms
facultatively (ˈfacultatively)
adverb
facultative in American English
(ˈfækəlˌteɪtɪv)
adjective
1.
a.
granting a faculty, or permission; permissive
b.
optional
2.
that may or may not happen or be; contingent
3.
having to do with a faculty or faculties
4. Biology
capable of living under varying conditions; e.g., able to live independently and as a parasite
see also obligate (sense 3)
Word origin
Fr facultatif < L facultas: see faculty
facultative in Insurance
(fækəlteɪtɪv)
adjective
(Insurance: Reinsurance)
Facultative reinsurance is negotiated for each reinsurance, as the reinsurer has no obligationto accept a particular risk nor the insurer to reinsure.
Facultative contracts are negotiated separately for each insurance contract reinsured.
Facultative coverage is a form of reinsurance where the reinsurer accepts or rejects individualrisks.
Facultative reinsurance is negotiated for each reinsurance, as the reinsurer has no obligationto accept a particular risk nor the insurer to reinsure.