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.
The insurer retains the assets, however, and continues to show the reinsured
liabilities on its books.
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.
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.