Reinsurance

An automatic treaty form where a portion of each covered policy is shared with a reinsurer on a fixed proportion.

A reinsurance structure where coverage automatically follows a cedant's portfolio once loss thresholds are reached.

A reinsurance pricing approach where premium is linked to prior loss results.

A reinsurance arrangement under which the reinsurer begins paying disability-related benefits only after the ceding company has paid for a stated initial period.

Coverage structured to respond to losses discovered during the policy or treaty period, even if the underlying wrongful act occurred earlier, subject to the contract's terms.

The starting premium amount for a policy before taxes, fees, endorsements, and reinsurance adjustments are applied.

The maximum amount of risk the market or insurer is willing to carry for a specific policy type.

To cede is to transfer part or all risk exposure from one insurer to a reinsurer.

An errors and omissions clause says that an inadvertent administrative mistake should not automatically destroy intended insurance or reinsurance coverage.

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 pure loss cost ratio in reinsurance, which represents the reinsurer’s losses in relation to the premiums received by the ceding company.

Learn about the retainer clause in reinsurance and how it specifies the portion of insurance the ceding company retains.

An insurer incorporated outside the host country that is licensed to do business in the jurisdiction.

A reinsurance transfer where the reinsurer takes over full policy obligations from the cedent.

Reinsurance protection that activates automatically under predetermined conditions without a case-by-case placement each term.

Owned by its parent to insure that parent and related entities.

The total reinsurance exposure from one catastrophe across multiple underlying insureds or policies.

A cut off clause defines the point after which a reinsurer is no longer liable for losses.

The total premium an insurer writes on its own policies before subtracting any premium ceded to reinsurers.

A return of premium or profit-sharing amount based on favorable insurance or reinsurance results under a contract formula.

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.

Explore the role and functions of a Sub Broker in reinsurance, an intermediary who assists the primary broker in acquiring necessary reinsurance placements.

Catastrophe futures are exchange-traded contracts used to transfer large-scale catastrophe risk exposure.

The insurer that passes risk to a reinsurer through a reinsurance arrangement.

Excess reinsurance that responds when an employer claims bill exceeds an agreed retention level.

A reinsurance coinsurance plan is a treaty structure where an insurer shares part of a policy risk with a reinsurer.

Excess per risk reinsurance protects the ceding insurer against losses on an individual insured risk above a stated retention.

An underwriting and program design approach that mixes exposure or risk segments under an integrated insurance structure.

An organized report of policy and claims data used for premium reconciliation and program reporting.

A maritime loan secured by ship or cargo, with repayment linked to successful completion of the voyage.

Insurer that transfers part of its risk to a reinsurer.

Nonproportional reinsurance structure that responds only after the ceding insurer's retention is exceeded.

Proportional structure where premium and losses are shared by formula.

Proportional treaty under which the reinsurer takes an agreed share of premium and losses.

Insurance bought by insurers to transfer volatility and protect capacity or capital.

Amount of risk the ceding insurer keeps before reinsurance attaches.

Proportional treaty where the ceding insurer keeps a stated line and cedes the excess share.