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Insurance

Retrocession

- One crucial aspect of maintaining financial stability as a reinsurer is through the purchase of reinsurance. This is a form of insurance that provides protection to reinsurers in the event of large and unexpected losses. It is a strategic risk management tool utilized by reinsurers to mitigate potential financial risks. By understanding and utilizing reinsurance effectively, reinsurers can safeguard their financial well-being and continue to provide vital support to the insurance industry.

Large-loss principle

When it comes to purchasing insurance, it is important to prioritize your coverage for serious loss exposures over less serious ones. This rule ensures that you are adequate...

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Loss costs

Insurance rates are composed of two main parts: the portion that covers claims and the costs of adjusting those claims. To determine these rates, insurance companies forecas...

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Protection and Indemnity (P&I) clause

"Let's discuss the importance of marine liability insurance for ocean-going vessels. This type of insurance provides protection against financial losses resulting from third...

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Primary company

Reinsurance, a common practice in the insurance industry, refers to the transfer of risk from one insurance company to another. The reinsurer, often a larger and more financ...

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