Learn what reassured means in the context of reinsurance, and understand the importance and role of companies that obtain reinsurance coverage.
Discover the General Agency System in life insurance, where general agents play a pivotal role in selling policies. Learn how this system operates and its advantages.
Explore the definition of a mutual insurer, an incorporated insurer that operates for the benefit of its policyholders, offering them dividends without incorporated capital.
Learn about Per Risk Excess Reinsurance, where the insurer pays losses up to a specific limit, and the reinsurer covers the remaining loss up to the agreed limit.
Explore the role and functions of a Sub Broker in reinsurance, an intermediary who assists the primary broker in acquiring necessary reinsurance placements.
Learn about the role of a Broker in general insurance, a person who acts on behalf of another to obtain insurance, and occasionally represent the insurer to collect premiums.
Learn about what a ceding company is in the realm of reinsurance, including its role in transferring insurance policies to another insurance company.
Explore the meaning of a domestic insurer which refers to an insurance company established in the same state it operates. Learn more about its regulatory environment and role in the local insurance market.
Discover the critical role of Insurance Departments in enforcing insurance laws, licensing professionals, and regulatory oversight in the U.S. and Canada.
