title = "Binding Authority Limits"

content = """
Binding authority defines who may commit the cedent to reinsurance terms and within what limits. Exceeding authority requires escalation.

**Delegated Authority:** Underwriters and operations staff may have authority to bind facultative placements up to specified limits. Limits may vary by line, reinsurer, or risk type.

**Escalation:** Risks exceeding authority require senior approval. Document escalation and approval for audit.

**Treaty vs Facultative:** Treaty placement is typically a senior management decision. Facultative binding limits apply to individual risk placements within an agreed framework.
"""  # noqa: E501

version = "0.0.1"
