When an insurance company enters into a reinsurance contract, it is agreeing to shift some of the risk from the policies that it has underwritten to the reinsurer, and in turn, will provide the reinsurer with a portion of the premium that it earns on those policies. It is an accounting ...
Reinsurance is the practice of mitigating insurance risks by sharing them with another insurance carrier in exchange for paying...
What is reinsurance? Insurance: Insurance is a contract between two parties, namely insurer and insured, whereby insured receives the financial protection against different kinds of losses to his property and his life. Different insurance policies provide protection against different losses. ...
Reinsurance is a way a company lowers its risk or exposure to an untoward event. The idea is that no insurance company has too much exposure to a particular large event/disaster. If one company assumed the risk on its own, the cost would bankrupt or financially ruin the insurance company a...
Publicfinance国家财政anexpertinfinancetheMinistryofFinance•2.财源;资金;(国家的)岁入;财务情况[P]Newtaxeswereneededtoincreasethenation’sfinances.需要课征新税，以增加国家的岁入。•Hisfinanceswereinbadshape.他的经济情况很不好。•及物动词vt.1.供资金给;融资,为...筹措资金Ourprojectisadequately...
In the world of insurance, understanding the concept of exposure is crucial. Exposure refers to the potential risk that an insurer or policyholder faces in terms of financial loss or damage. It is a fundamental concept that plays a significant role in the insurance industry, as it helps insurer...
Protection and Indemnity (P&I) is a type of insurance that shipowners purchase to cover the potentially huge costs of any harm they accidentally cause to people, property and the environment. As liabilities for injuries, cargo loss, collisions and pollution can far exceed the value of a ship...
Understanding how annual renewable term insurance works is essential in determining if it is the right choice for your insurance needs. Here’s a breakdown of the key aspects of this type of policy: Premiums:With annual renewable term insurance, the policyholder pays premiums on an annual basis....
especially if a natural disaster strikes and an insurance company is forced to pay out a lot of claims at once. With reinsurance, part of the risk is taken on by another insurance company, with the initial insurance company essentially buying insurance to protect it in the event of a major...
and insurance coverage and reinsurance matters. Representing Allergan in governmental inquiries and civil suits in a quantity of courts related to its sale and advertising of opioid ache killers. This litigation and related litigation have been recognized publicly as a prime priority of the DOJ, of ...