We discuss our business priorities and how to match our technology
January 1, 2018 by Mark in Business
Reinsurance companies are insurance companies that sell policies to other insurance companies, allowing them to reduce their risks and protect themselves from very large losses. The reinsurance market is dominated by a few very large companies, with huge reserves. A reinsurer may also be a direct writer of insurance risks as well.
Small businesses it offers consulting services as well as factoring finance.
Insurance companies are rated by various agencies such as A. M. Best. The ratings include the company's financial strength, which measures its ability to pay claims. It also rates financial instruments issued by the insurance company, such as bonds, notes, and securitization products.
Captives are becoming an increasingly important component of the risk management and risk financing strategy of their parent. This can be understood against the following background.
The business model is to collect more in premium.
The types of risk that a captive can underwrite for their parents include property damage, public and product liability, professional indemnity, employee benefits, employers' liability, motor and medical aid expenses. The captive's exposure to such risks may be limited by the use of reinsurance.
If the Insured has a "reimbursement" policy, the insured can be required to pay for a loss and then be "reimbursed" by the insurance carrier for the loss and out of pocket costs including, with the permission of the insurer, claim expenses.
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Captives are becoming an increasingly important component of the risk management and risk financing strategy of their parent.
5 Comments
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Jana Klein
January 1, 2018 Reply
Neither insurance consultants nor insurance brokers are insurance companies and no risks are transferred to them in insurance transactions.
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Ruby Nelson
January 1, 2018 Reply
Third party administrators are companies that perform underwriting and sometimes claims handling services for insurance companies.
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Hope Schneider
January 1, 2018 Reply
These companies often have special expertise that the insurance companies do not have.
Doyle Holland
January 1, 2018 Reply
The use of basic technology is also a feature of other animal species apart from humans. These include primates such as chimpanzees.
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Julian Wilson
January 1, 2018 Reply
The science can be leading edge or well established and the function can have high visibility or be significantly more mundane.
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