Reinsurance 101: Basics For Insurance Buyers Reinsurance is like the weather. Many of us talk about it, but most cant do much to change it.
Just as the weather often is blamed for a shift in our plans, reinsurance has been shouldering much of the blameor praise in some casesfor a return to underwriting standards and pricing levels that have been pretty much nonexistent for the last 10 years or so.
Despite the reemergence of reinsurance as the heavy in the current hard market drama, some insurance buyers say they missed the chapter on reinsurance in “Insurance 101,” so here are a few of the basics of traditional reinsurance.
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