Reinsurance

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Reinsurance

The spreading of risk and division of client premiums among insurance companies allowing the sharing of the burden of a large risk.

Reinsurance

An insurance policy for insurers. In reinsurance, one insurer cedes a portion of its portfolio of policyholders to another insurer in exchange for paying a fee. There exists the possibility that too many policyholders will make a claim and a single insurer will be unable to pay the benefit without ruining itself. This is especially true for disaster insurance and other similar policies. Reinsurance reduces this risk. It is also called stop-loss insurance.

reinsurance

see INSURANCE COMPANY.
References in periodicals archive ?
The court of First instance appointed an accounting expert who examined the documents including the correspondence exchanged between the Broker and the Reinsured, the accounts and the cover notes.
For example, where the underlying policy is underwritten with only basic disclosure by the policyholder, this might be sufficient to comply with local African law and practice -- meaning that the policyholder will be covered in the event of a loss -- but the reinsured may face difficulty demonstrating to its foreign reinsurer that, under English law, it has conducted a reasonable search of available information and provided a fair presentation of the risk.
More than half of the recurring in-force, 52%, is reinsured on a coinsurance basis.
A Web-enabled case management referral system between the reinsured and various managed care vendors offers reduced cycle time with use of managed care vendors to control claim frequency and severity.
It's a product enhancement for them--it drops a little bit of guaranteed income to their bottom and top lines without any risk of loss because it's 100% reinsured," Schraeder said.
Prior to the dissolution, FIE had all of its business reinsured by American Bankers Insurance Company of Florida, an affiliate.
He expects the percentage of life business reinsured to grow based on the following factors:
A PORC has historically defined a captive that reinsures risk of another insurance company with the owner of the PORC producing the insurance risk that is reinsured into its captive.
Unum America will enter into a portfolio indemnity reinsurance agreement with Tailwind Re on a modified coinsurance basis with respect to a quota share of its reinsured claims.
Less than 1% of Japanese life insurance is reinsured, compared with 20% in the United States and 30% in Canada, according to the Reinsurance Group of America Inc.
In Phase II Equitas will seek approval of the High Court to transfer all the liabilities of Reinsured Names into Equitas or a subsidiary of Berkshire Hathaway.