Introduction to Reinsurance.pdf - Prince Lobel

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Reinsurance: A Definition Insurance for Insurance Companies An insurance company, called the primary or ceding company, shares portions of its liability with another insurance company, known as a reinsurer Reinsurance is a transaction between insurance companies only The underlying policyholder has no interest or privity in the reinsurance contract The subject matter of a reinsurance contract is the risk the Reinsured undertook in its original policies. The reinsurer “reimburses” the insurer for its portion of paid claims The heart of reinsurance is utmost good faith (uberrimae fides)
Insurance/Reinsurance Similarities Both Protect against uncertain, future events Involve a transfer of risk Require a payment of premium Pay for certain types of expenses Require underwriting (selecting, analyzing, pricing) skills
Page 1 and 2: April 4, 2008 Introduction to Reins
Page 3: Overview What is Reinsurance Insu
Page 7 and 8: How Reinsurance Works It spreads th
Page 9 and 10: April 4, 2008 Types and Characteris
Page 11 and 12: Characteristics of The Reinsurance
Page 13 and 14: Forms of Reinsurance Pro Rata (“
Page 15 and 16: Per Occurrence Excess Multiple Risk
Page 17 and 18: The Anatomy of a Reinsurance Claim
Page 25 and 26: April 4, 2008 Two Key Principles in
Page 27 and 28: “Uberrimae Fides” or the Duty o
Page 29 and 30: April 4, 2008 Common Problems and I
Page 31 and 32: Right of Inspection: Virtually all
Page 33 and 34: Non-Congruence of Insurance and Rei
Page 35 and 36: Declaratory Judgment Actions: Alth
Page 37 and 38: Agreements to Arbitrate and Confide
Page 39 and 40: Agreements to Arbitrate and Confide
Page 41 and 42: The Loss - Scenario A Mitchell's N
Page 43 and 44: The Reinsurance Claim Big Heart In

Introduction to Reinsurance.pdf - Prince Lobel

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