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"Long Tail" refers to the length of time between a claim causing incident and the settlement of the resultant claim. Property insurance is "Short Tail."Example, it is typically only a matter of days or weeks between the time of fire or tornado damage and the resultant claim being paid. On the other hand, Medical Malpractice and Workers' Compensation claims often continue for years before they are settled. Reinsurance for such short tail lines of insurance is known as short tail reinsurance
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What is Outward Reinsurance?
Reinsurance ceded by an insurer or re-insurer as opposed to inwards reinsurance which is reinsurance accepted.
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.
Who sells reinsurance?
Majority of reinsurance is sold by Reinsurance companies. The biggest of these are Munich Re, Swiss Re, Gen Re, Hannover Re and so called London Market - however it cannot be considered as classic reinsurance company. In some cases insurers reinsure other insurance companies.
What is coverage with respect to reinsurance?
your bum
When was Shorttail fanskate created?
Shorttail fanskate was created in 1877.
When was São Tomé Shorttail created?
São Tomé Shorttail was created in 1892.
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.
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)
What is a Tent Plan Reinsurance?
Tent Plan Reinsurance is a form of treaty reinsurance that covers multiple lines of business and is based on a non proportional / Excess of Loss basis. Similar to an umbrella, but attaching at the frequency level. This makes sense to insurers, that have many smaller lines of business which would be too uneconomical for a normal and seperate XoL structure. For example: Insurer A writes some Fire, Engineering, Personal Accident, Marine and Surety business. In order to protect from large losses, the company could buy one XoL for instance 450k USD in excess of 150k USD for all these lines of business.
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 has the author Ross Phifer written?
Ross Phifer has written: 'Reinsurance fundamentals' -- subject(s): Reinsurance
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
