August 2008 Dec Page

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Question of the Month

 

Reinsurance is an integral part of the property/casualty insurance industry, but its principles may be confusing to those who do not work directly in this area. However complex reinsurance may appear, it is basically a means by which the exposures of insurers are redistributed to other insurers. An insurer (the primary or ceding company) transfers some or all of its exposures and premium to a reinsurer. The reinsurer, in turn, then agrees to indemnify the ceding company for a predetermined type and amount of loss sustained.

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