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Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) is an insurance company headquartered in the Cayman Islands. [1] The sixteen original member-countries of CCRIF included participants in CARICOM , and the membership of the Board of Directors is selected by CARICOM and by the Caribbean Development Bank .
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 ...
In per risk, the cedent's insurance policy limits are greater than the reinsurance retention. For example, an insurance company might insure commercial property risks with policy limits up to $10 million, and then buy per risk reinsurance of $5 million in excess of $5 million. In this case a loss of $6 million on that policy will result in the ...
A risk corridor is a provision in US healthcare legislation that aims to stabilize health insurance premiums by limiting the financial risks borne by insurance providers. [1] Risk corridors are found in Medicare Part D and the Affordable Care Act (ACA). [2] In the Medicare Part D prescription drug program, risk corridors were established to ...
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.
The McCarran-Ferguson Act specifically provides that the regulation of the business of insurance by the state governments is in the public interest. Further, the Act states that no federal law should be construed to invalidate, impair or supersede any law enacted by any state government for the purpose of regulating the business of insurance ...
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 ...
Generally, IFRS 4 permitted companies to continue previous accounting practices for insurance contracts, but did enhance the disclosure requirements. [3] IFRS 4 defines an insurance contract as a "contract under which one party (the insurer) accepts significant insurance risk from another party (the policyholder) by agreeing to compensate the policyholder if a specified uncertain future event ...