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Reinsurance can make an insurance company's results more predictable by absorbing large losses. This is likely to reduce the amount of capital needed to provide coverage. . The risks are spread, with the reinsurer or reinsurers bearing some of the loss incurred by the insurance compa
The Nonadmitted and Reinsurance Reform Act of 2010 is a United States law regulating the sale of insurance in states where the insurer is usually not authorized to sell insurance. It prevents states other than the home state of a U.S. insurance company from imposing regulations or taxes on the sale of nonadmitted insurance.
Reinsurance pure premium rate computing, add charges, taxes and reduction of treaty "As if" data involves the recalculation of prior years of loss experience to demonstrate what the underwriting results of a particular program would have been if the proposed program had been in force during that period.
Financial reinsurance (or fin re) is a form of reinsurance which is focused more on capital management than on risk transfer. In the non-life insurance segment of the insurance industry this class of transactions is often referred to as finite reinsurance.
"Additional premium provision" means, in the context of finite risk insurance, a provision of an insurance or reinsurance contract that requires or strongly encourages the insured to pay the insurer some calculable amount as a result of losses paid or incurred under that insurance or reinsurance contract, excluding provisions for additional premium due to changes in exposure or policy audit.
A cash-out refinance lets you borrow against your home's equity by replacing your current mortgage with a bigger one, giving you the difference in cash. Learn how it works — and key risks ...
[9] [10] In contrast, ordinary non-insurance contracts are commutative in that the amounts (or values) exchanged are usually intended by the parties to be roughly equal. [ 9 ] [ 10 ] This distinction is particularly important in the context of exotic products such as finite risk insurance that contain "commutation" provisions.
Even the commonly accepted layperson's definition of recession ... If the three-month average of the national unemployment rate has risen 0.5% or more from the previous 12-month low, the rule ...