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Most of the above examples concern reinsurance contracts (treaty contracts) that cover more than one policy. Reinsurance can also be purchased on a per policy basis, in which case it is known as facultative reinsurance. Facultative reinsurance can be written on either a proportional or excess of loss basis.
Alternative risk transfer (often referred to as ART) is the use of techniques other than traditional insurance and reinsurance to provide risk-bearing entities with coverage or protection. The field of alternative risk transfer grew out of a series of insurance capacity crises in the 1970s through 1990s that drove purchasers of traditional ...
The principle in SAAMCO cannot be invoked in cases where investment advisers specifically direct an investor to make a specific investment (see Rubenstein v HSBC Bank plc [3] and Aneco Reinsurance Underwriting Ltd (in liquidation) v Johnson & Higgins Ltd), [4] though it may be rather difficult to carefully demarcate where information ends and ...
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.
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.
Reinsurance sidecars, conventionally referred to as "sidecars", are financial structures that are created to allow investors to take on the risk and return of a group of insurance policies (a "book of business") written by an insurer or reinsurer (henceforth re/insurer) and earn the risk and return that arises from that business. A re/insurer ...
Assumption reinsurance is a form of reinsurance whereby the reinsurer is substituted for the ceding insurer and becomes directly liable for policy claims. This ordinarily requires a notice and release from affected policyholders.
Reinsurance to close (RITC) is a business transaction whereby the estimated future liabilities of an insurance company are reinsured into another, in order that the profitability of the former can be finally determined.