Learn about management expense in reinsurance, a crucial component that covers reinsurers' overhead costs according to a contingent commission agreement.
Discover the fundamentals of Automatic Proportional Reinsurance, where insurers automatically share risks, premiums, and losses with reinsurers, and the dynamics of transfer commissions.
Learn about net loss in general insurance terms, which refers to the portion of a loss the insurer retains after reinsurance, salvage, or subrogation coverage.
Learn about the role of a retrocessionaire in reinsurance, who is responsible for reinsuring a reinsurer, adding an extra layer of security within the insurance industry.
Understand the mechanism of Sliding Scale Commission in Reinsurance. Learn how commission paid by a ceding insurer to a reinsurer varies based on the loss ratio formula.
Learn about pro rata reinsurance, where a reinsurer shares both claims and premiums with the ceding company, ensuring mutual risk distribution.
Learn about risk pools in general insurance, where a group of insurers share premiums and losses collectively, often for large commercial risks.
Understand what Priority (Reinsurance) means in the insurance industry. Learn that it is another term for retention and its significance in reinsurance agreements.
Learn about the Carpenter Plan in reinsurance, where the premium amount is linked to the insurance company's incurred losses over a specific period. This article delves into the specifics of how it works and its implications.
Learn about 'Credit Carried Forward' in reinsurance, its implications under spread loss, and how it impacts accounting periods. A key term for insurance professionals.
Learn about 'Extended Wait' in reinsurance, a provision where the reinsurer begins paying benefits under a disability contract after the ceding company has made payments for several months.
Discover the definition of 'Overlie' in general insurance and understand how it relates to exceeding the usual capacity for insurance or reinsurance commitments.
Exploring the significance and implications of reinsurance credit in the annual statements of ceding insurers, covering ceded premiums and recoverable losses.
Learn about Second Surplus Reinsurance, a type of reinsurance where a second reinsurer accepts coverage through a surplus treaty. Understand its role, definitions, and implications.
Learn about Spread Loss Reinsurance, a type of excess loss reinsurance where annual premium rates are based on the ceding insurer's past excess losses.
Explore the concept of automatic non-proportional reinsurance, a vital protection mechanism for insurers against losses exceeding predetermined limits, ensuring financial stability and risk management.
Explore the concept of Portfolio Reinsurance, where a reinsurer takes on a portion of the ceding insurer's entire portfolio, including all classes or just one coverage class.
Learn what reassured means in the context of reinsurance, and understand the importance and role of companies that obtain reinsurance coverage.
Learn about blended insurance programs that combine finite risk, reinsurance, and traditional insurance for comprehensive long-term coverage.
Understanding Discovery Cover in Reinsurance: A treaty covering losses identified during the agreement term, regardless of the actual loss date. Essential for comprehensive risk management.
Explore the concept of reinsurance premium, an amount paid to a reinsurer by the ceding insurer for the reinsurance provided. Learn how it impacts the insurance sector.
Learn about base premiums in general insurance and how they serve as the foundation for calculating reinsurance premiums. Essential knowledge for practitioners and students in the insurance industry.
Learn about the concept of 'ceding' in reinsurance, which involves transferring insurance or reinsurance from an insurer to a reinsurer. Understand its significance and application in the insurance industry.
Understand the Errors and Omissions Clause in reinsurance, ensuring that minor errors or omissions do not invalidate the reinsurer's liability.
Explore the concept of Excess of Loss Reinsurance, a crucial mechanism in the insurance industry that protects insurers from large-scale losses and financial risks.
Explore facultative reinsurance, a type of reinsurance where the reinsurer can accept or reject individual policies presented by the insurer. Learn how it works and its benefits.
Understand the concept of flat rate in reinsurance, its derivation from the premium income of the ceding insurer, and its implications in insurance and reinsurance transactions.
Discover how mutual atomic energy reinsurance pools work in liability insurance, focusing on coverage for private nuclear energy reactors. Learn the specifics of this specialized insurance type.
Learn about nonadmitted reinsurance, its implications for ceding companies, and the importance of licensing in the jurisdiction where the business is conducted.
Explore the concept of portfolio return in reinsurance, which involves the reinsurance of a portfolio that was previously reinsured. Learn about its significance, processes, and regulatory implications.
Learn about portfolio runoff in reinsurance, a method where a portfolio is reinsured until all the ceded premiums are paid. Understand its significance and applications.
Learn about recapture in reinsurance, a process where the ceding company reclaims previously transferred business from the reinsurer. Understand its importance and implications in the insurance industry.
Learn about reinstatement in reinsurance, its importance in re-effecting catastrophe reinsurance policies that have already paid out, and how reinstatement premiums work.
Learn about retrocession in reinsurance, a transaction where a reinsurer cedes the reinsurance it has assumed to another reinsurer, diversifying risk.
Explore the essential aspects of stop-loss insurance, a type of reinsurance for health plans or employer-funded plans, designed to safeguard against substantial financial losses.
Learn about capacity in general insurance terms, which defines the largest quantity of insurance or reinsurance available for purchase from one company or the entire market.
Learn the basics of loss loading in reinsurance and how it influences the reinsurance rate. Explore how this essential factor is applied to a pure loss cost.
Learn about net retention in general insurance— the portion of risk that a ceding company retains and does not reinsure to another party.
Learn about pure loss cost ratio in reinsurance, which represents the reinsurer’s losses in relation to the premiums received by the ceding company.
Learn about retention in health insurance and reinsurance, including its impact on administrative costs and the amount of insurance retained by the ceding company.
Learn about the runoff provision in reinsurance contracts, which ensures that reinsurers remain liable for losses under policies in force until expiration, even after contract termination.
Learn about the retainer clause in reinsurance and how it specifies the portion of insurance the ceding company retains.
Explore the concept of Underlying (Reinsurance) in the insurance realm. Learn how it represents the total amount of coverage for a risk before additional reinsurance applies.
Discover the importance of the Work Program clause in contract bond reinsurance, detailing its connection to the principal’s total amount of work.
Learn about Assumption Reinsurance, a type of reinsurance where the re-insurer assumes total responsibility for an insurance policy from the original insurer. Understand how the policy transfer process works and its implications.
Explore cumulative liability in reinsurance, how it impacts reinsurers, and its significance in the event of a disaster. Understand the total accumulated liability from policies affected by the same disaster.
Learn about 'Cut off' in reinsurance, a key stipulation in contracts, outlining that reinsurers are not liable for losses from events post-termination.
Learn about the Insolvency Clause in Reinsurance, a crucial stipulation ensuring that the reinsurer remains liable for their share of losses even if the insurer becomes financially insolvent.
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.
Learn about the term 'Primary Insurer' in reinsurance, also known as the ceding company. Understand their role in transferring risk to reinsurers.
Learn about Quota Share Insurance in Property Insurance, a type of contract where risks are shared between two policies based on a predetermined percentage.
Learn about reciprocity in reinsurance, where ceding companies and reinsurers engage in reciprocal insurance placement for mutual benefit.
Explore the concept of reinsurance assumed and learn about the premium amounts associated with the assumption of reinsurance in the insurance industry.
Discover the essential role of a Reinsurance Broker in placing risks for reinsurance on behalf of ceding insurers. Learn how these professionals ensure coverage continuity and risk management.
Understand the concept of selection of risk in general insurance terms, including how insurers choose which risks to insure and the role of reinsurance in managing those risks.
Learn about special acceptance in reinsurance, where risks not automatically accepted through a reinsurance contract are taken on through a separate agreement.
Discover the essentials of Stop Loss Reinsurance, a type of coverage where a ceding insurer is protected based on the losses incurred within a calendar year. Learn how this affects the financial stability and risk management of insurers.
Learn about the strike through clause in reinsurance, a provision that ensures losses are managed even if the ceding insurer is unable to meet them, directing the reinsurer to pay the insured directly.
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 subject premium in the context of reinsurance, including how the ceding insurer's premium is used to calculate the reinsurance premium by applying the reinsurance factor.
Learn about Experience Refund in Reinsurance, a profit-sharing mechanism where a fixed amount of net profit is returned to the ceding insurer at year's end.
Learn about 'Remainder' in reinsurance, the amount of risk remaining after a ceding company deducts its retained portion.
Learn about the responsibilities and functions of an Intermediary (Reinsurance), a specialized broker who negotiates reinsurance contracts on behalf of the insured.
Understand Yearly Renewable Term (YRT) life insurance policies and their renewability, along with its implications in reinsurance, where the reinsurer assumes only mortality risk.
Explore the concept of the Burning Cost Ratio in reinsurance, understanding its definition, calculation based on different reinsurance policies, and its crucial role in assessing insurer liabilities and premium income.
Learn about what a ceding company is in the realm of reinsurance, including its role in transferring insurance policies to another insurance company.
Learn about contingent commission in reinsurance, a commission based on the net profit from a reinsurance treaty, paid to the ceding company in addition to the usual commission.
Discover the importance of 'Lines' in reinsurance agreements, specifically focusing on the amount a reinsurer agrees to accept in a surplus treaty.
Learn about reinsurance, a crucial insurance mechanism that helps ceding companies transfer risks to reinsurers, ensuring financial stability and reducing large losses.
Learn about Surplus Reinsurance, an automatic reinsurance type where the ceding company transfers risks exceeding their retention limit. Explore its functions and benefits in risk management.
Discover the fundamentals of Treaty Reinsurance, an automatic contract defining conditions for reinsuring classes of business, optimizing your reinsurance strategies.
Learn what Bordereau is in reinsurance, how it helps ceding companies provide essential information to reinsurers, and its impact on loss history and premium history.
Learn about unearned reinsurance premium, the portion of the premium related to the part of a policy that has been reinsured.
Learn about Workers Compensation Catastrophe Policies in reinsurance, a critical excess of loss coverage that primary insurers use to safeguard against unlimited medical and compensation liability.
Understand the concept of Net Line in reinsurance, referring to the insurance amount retained by the original insurer and its implications on risk management.
Learn about the role of a reinsurer in the insurance industry and how reinsurance works to distribute risk among insurance companies.
Learn about the coinsurance plan of reinsurance, a form of reinsurance where insurance companies transfer a segment of a life insurance policy to a reinsurer who then shares in the death benefit payments.
Learn about excess per risk reinsurance, a type of reinsurance that protects the ceding company against losses exceeding a specific retention amount for each individual occurrence.
