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Data:2009-12-12 2:34
Reinsurance, also known as reinsurance, the insurance will cover the risk of liability by one or all of the reinsurance to other insurers behavior. Risk of transfer of responsibility will be the party that the original insurer, put at risk the liability side, said the re-insurer. Movements of hazardous responsible party, in the insurance terminology, this is called separation of the person or separation of the company. Put at risk the responsibility of the party, known as reinsurance, or reinsurance to accept to accept the company. If the recipient will accept reinsurance business and then distributed to other insurers, such an approach is called retrocession, the parties known as retrocession reinsurance ceded and the transfer recipient.
Insurance is the risk borne by policyholders will be transferred to insurance companies, insurance companies collect premiums through the approach, the establishment of insurance funds, based on insurance contracts, the insured person suffered economic losses to compensate. Ceded reinsurance is entered into between the people and acceptance of reinsurance contracts, under such reinsurance contracts, reinsurance recipient of the separation of responsibilities because of the risk of occurrence, or insurance indemnities by the economic loss compensation. Reinsurance is insurance, a kind of insurance, like it, are a dangerous commitment, decentralization and transfer.
Re-insurance is a kind of insurance, but insurance, there are many differences, which is characterized by: (a) enter into a contract that both parties are insurers, reinsurance ceded one side is the other recipient for the re-insurance. (B) the subject of reinsurance contracts is borne by those ceded reinsurance of insurance liability, non-material. (C) All reinsurance contracts, including life insurance and property insurance, to implement the principle of compensation.
Reinsurance is the re-insurers of the original contractual relationship between the insurer and is the original insurer will be covered by the insurance risk transferred to reinsurers in the insurance contract to act is based on the original insurance contracts based on an independent contract. So, the original insurance does not exist, re-insurance that is no way to set up.
Re-insurers to accept reinsurance business, it shall provide the original insurer to fulfill its obligation to guarantee. Method is the original insurer holding and premium reserves, or by re-insurers to provide proof of credit.
