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Meaning of Cesson

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  • That which is ceded. Insurance: (part of) a risk which is transferred from one actor to another.
         The reinsurance company accepted a 25% cession from the direct insurer.
  • The transfer of a personal claim from a cedent to a cessionary.
- The Nuttall Encyclopedia

Ces"sion (?), n. [L. cessio, fr. cedere to give way: cf. F. Cession. See Cede.] 1. A yielding to physical force. [Obs.] Bacon.

2. Concession; compliance. [Obs.]

3. A yielding, or surrender, as of property or rights, to another person; the act of ceding.

A cession of the island of New Orleans.

4. (Eccl. Law) The giving up or vacating a benefice by accepting another without a proper dispensation.

5. (Civil Law) The voluntary surrender of a person's effects to his creditors to avoid imprisonment.

- Webster's Unabridged Dictionary (1913)

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The correct spelling of this word ought to be: Cession

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