A reinsurance contract typically involves two companies: Ceding company (or cedent): The company (usually an insurance company) transferring some of its risk Reinsurer: The company (typically another insurance
In a slightly different formulation, the Second Circuit also has stated that treaty reinsurance "involves an ongoing agreement between two insurance companies binding one in advance to cede and the other to accept certain reinsurance business pursuant to its provisions."Progressive Cas. Ins. Co. v....
contractandthenonlytoseekfurtherreinsurance protectionforamountsinexcessofthetreatylimit. 3.bind:约束;upto:一直到 Treaties 1.Itwillbenotedthatnooffersofindividualrisksare madetoreinsurers. 2.Butitwillnotdispensewiththerecordingof cessions made to the reinsurers in the Ceding Company's books, if only ...
1.4 Are there any legal rules that restrict the parties’ freedom of contract by implying extraneous terms into (all or some) contracts of insurance? No. Article 18 of the PRC Insurance Law stipulates the main details (e.g., liabilities, exemption, period, compensation and fee) that should ...
We study the consequences and optimal design of bank deposit insurance and reinsurance in a general equilibrium setting. The model involves two production
In addition, the insurer can purchase reinsurance protection to share the risk of large claim payouts with reinsurance companies. In this paper, we do not impose any restrictions on the form of reinsurance contract. Instead, we assume that the insurer’s reinsurance strategies at time t can be...
Spot reinsurance is an insurance contract that spreads the risk associated with a single event from an insurance company to a reinsurer. Insurance companies can get spot reinsurance when a portion of their portfolios involves more risk than the entire portfolio. ...
The regulation of insurance companies is split between the states and the federal government. Each of the 50 states regulates the operations of insurance businesses within its borders and has its own laws concerning the appropriate contractual terms that parties to an insurance contract are allowed to...
Id. at *2. The Magistrate Judge's analysis focused on the purpose of reinsurance, finding that, similar to insurance reserves, which the Magistrate Judge also ruled were not discoverable, "reinsurance involves a business decision, not a legal determination regarding policy interpretation or coverage...
access to the risk-linked securities market on an indemnity basis (i.e., where the reinsurance contract is written directly on the losses of the ceding insurance companies portfolio) was limited to large, highly rated insurance and reinsurance companies with relatively standardized underlying insurance...