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It is the overall annual layer capacity. In a Non-Proportional Treaty Agreement, it represents the ceded claims maximum amount (capacity) for a specific Layer. When there are reinstatements present, it is determined from the sum of various reinstatement cover amounts anticipated plus the basic «nominal» cover (capacity) of the layer. A layer with a cover of 1,000,000 and 2 Reinstatements anticipated will have a capacity or horizontal cover of 3,000,000. Each claim payment ceded on a layer «erodes» the available capacity (cover). If one or more Claims or even part of a payment erodes all of the remaining available capacity, the layer is said to be saturated and any Claims that are ceded thereafter will have no effect on reinsurers and the amount ceded will remain as additional retention for the Ceding company.https://www.cconsulting.it/wp-content/uploads/2023/05/logo_retina-C-Consulting-Engineering-Group.png600120