0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Facultative reinsurance and coinsurance?
Facultative reinsurance is a form of reinsurance in which the terms, conditions, and reinsurance premium is individually negotiated between the insurer and the reinsurer. There is no obligation on the reinsurer to accept the risk or on the insurer to reinsure it if it is not considered necessary. The main differences between facultative reinsurance and coinsurance is that the policyholder has no indication that reinsurance has been arranged. In coinsurance, the coinsurers and the proportion of the risk they are covering are shown on the policy schedule. Also, coinsurance involves the splitting of the premium charged to the policyholder between the coinsurers, whereas the reinsurers charge entirely separate reinsurance premiums. Regards, Tamer Haddadin
Distinguish between co-insurance and reinsurance?
Coinsurance in medical health (casualty) is sharing of costs between insurer and insured, and in property insurance it is were the risk( one risk) is shared between different insurance companies. Reinsurance is insurance for an insurance company, where by an insurance companies seeks for indemnification in case that a stated loss takes place.
What is Outward Reinsurance?
Reinsurance ceded by an insurer or re-insurer as opposed to inwards reinsurance which is reinsurance accepted.
When was Global Reinsurance created?
Global Reinsurance was created in 1990.
Difference between risk sharing and risk transfer in insurance in insurance?
Risk Sharing is used in coinsurance specifically where the risk is to be shared and not transferred among several insurance companies each one them having a direct contractual relationship with the insured for the portion of the risk accepted by that company.and transferring the risk is used in reinsurance , and reinsurance always involves legal entities and not individualsin reinsurance the contractual relationship is between the cedant and the reinsurer , only in special situations does the reinsurance treaty have a provision called the cut through clause that allows the insured to have a direct legal claim to the reinsurer for example , in the case the insurer becomes insolventHope all is in orderRegards,Tamer Hadddin
How do these evolved chacteristics benefit the plants?
how
When was Reinsurance Group of America created?
Reinsurance Group of America was created in 1973.
What is the population of Reinsurance Group of America?
Reinsurance Group of America's population is 1,655.
What is Reinsurance Group of America's population?
The population of Reinsurance Group of America is 2,011.
Who are the buyers of reinsurance?
*Direct insurance company *Captive insurance company *Reinsurer However, there are no clear separation between buyers and sellers in reinsurance. Insurance company maybe a buyer (outward reinsurance) and a seller (inward reinsurance)
Who is Insured in case of Reinsurance?
Reinsurance may be purchased by an insurance company for an individual risk, a specific class of risk, or an entire book of business. In any case, the insurance company that purchases the reinsurance is the Insured. The actual policy holder(s) are unaware of the reinsurance arrangement.
What is pertaining to producing female chacteristics called?
estrogen
