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A direct insurer offers insurance products directly to the public; it does not use any intermediaries.
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∙ 16y ago
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What are the benefits of a direct insurer over a reinsurer?
Reinsures look to the opinions of direct insurers when making a decision on risk asessment and insurability. A direct insurer will be able to offer more customized insurance for your particular need, but may cost more. In exchange, you are getting more tailored insurance.
What is faculative reinsurance?
A policy where the original (principal) insurer determines the level of risk it should maintian on any one policy, while the principal insurer will ask to share the remaining risk with a third party insurer for a premium. facultative reinsurance is taken for in dividual risks. if any risk is beyond direct insurers limit and does not fall under any treaty arrangements he made then the direct insurer approaches for the facultative support Suman Karthik
What are the benefits of purchasing direct car insurance?
Yes, there may be benefits to purchasing car insurance directly from an insurer over the internet. Geico is a large internet insurer who provides car insurance at a discount.
Can you get auto insurance without an agent?
Yes, you should call a direct-insurer (which is the insurance company) and you can buy your insurance from them directly.
What is a cessionary?
A cessionary is someone who receives a transfer of legal rights or property from another party. This transfer is known as cession. The cessionary assumes the same rights and obligations as the original party.
When was John Carter - insurer - born?
John Carter - insurer - was born in 1937.
Can you explain reinsurance for short term insurance?
Regardless of the type of insurance involved (long or short term), the essence of reinsurance is essentially the same. It can be characterized as "insurance for an insurer". It is a contract that one insurer makes with another to protect the first from a risk that it has already assumed. In retun the first (primary) insurer pays a premium to the reinsurer to assume that risk. Stated otherwise, a reinsurance contract os one in which the reinsurer agrees to indemnify (make whole), either fully or in part, losses that it has to pay to policyholders. Those losses are paid under the original insurance contracts issued to consumers. State insurance regulators limit the amount of insurance that an insurer can issue based, in part, upon the insurer's assets. Asset value is important to ensure that the insurer's financial stability is sufficient to pay policyholder claims as they accrue. One of the functions of certain types of reinsurance is that it counts toward the assets of the primary insurer. Therefore, since it is considered to have additional assets consisting of the reinsurance, the primary insurer is able to issue a greater amount of insurance than it would if it has to rely solely upon its own assets. Important to note is that for the most part, the reinsurance transaction is invisible to the insurance consumer. As such, the consumer does not have a direct right of action (claim or lawsuit) against the reinsurer; the claim is against the insurer and the insurer and reinsurer allocate responsibility between themselves. However, in rare circumstances, there exists a "cut-through" provision in reinsurance agreements that allows the consumer a direct right of action against the reinsurer.
If your parked car was hit and run are you covered?
Depends on your insurer. Contact your insurer for more info.
Insurable interest is a legal right to insurer discurse?
insurable intrest is a legal right to insurer? discurse.
What is Outward Reinsurance?
Reinsurance ceded by an insurer or re-insurer as opposed to inwards reinsurance which is reinsurance accepted.
Doer homeowners insurance cover robbery on the street?
Homeowners insurance usually covers personal possessions that are stolen during a robbery both in and outside the home, including on the street. However, coverage limits may apply, so it's best to review your policy or consult with your insurance provider to understand the specifics of your coverage.
In event of a loss after notice of a claim is submitted to insurer who is responsible for providing claims forms and to which party?
insurer to the insured
