Total Pageviews

Thursday, April 7, 2011

Health Insurance Questions 1

Health Insurance Questions 1

• Define health insurance
• Discuss historical developments in the Health Insurance Industry
• Demonstrate the ability to differentiate between successful and failed models of health insurance and discuss lessons learnt from history

Tuesday, February 1, 2011

Reinsurance is - "Insurance of Insurance"

Reinsurance is - "Insurance of Insurance"

  • Reinsurance is the insurance of the risk assumed by the insurer
  • Major forms of reinsurance are:
    • Treaty Reinsurance
    • Facultative Reinsurance
  • Reinsurance can be Proportional or Non-Proportional Reinsurances


Tuesday, January 25, 2011

Reinsurance Solutions Business Process Reengineering

Reinsurance Solutions Business Process Reengineering


RSL has successfully developed new systems and reengineered the reinsurance operations for numerous insurance companies and intermediaries.

What follows are summary results from selected RSL reengineering engagements:

How to Process Reinsurance | eHow.com

How to Process Reinsurance | eHow.com

How to Process Reinsurance

Reinsurance is a complicated arrangement between insurance companies that share the responsibility of paying for claims. These companies also share the money coming in for premium payments. This often makes it difficult to assess which company will be paying for the policies when it's time to process these claims.



Read more: How to Process Reinsurance | eHow.com http://www.ehow.com/how_2253129_process-reinsurance.html#ixzz1C2fHbLta

Tuesday, January 18, 2011

Munich Re - Welcome

Munich Re - Welcome


Munich Re has been supporting the aviation industry for 100 years with innovative solutions that help to ensure the success of an industry that is always striving to reach new heights. Here is a summary of aviation insurance from its beginnings to the present day

Monday, January 17, 2011

Reinsurance - Wikipedia, the free encyclopedia

Reinsurance - Wikipedia, the free encyclopedia

Reinsurance is insurance that is purchased by an insurance company (insurer) from another insurance company (reinsurer) as a means of risk management, to transfer risk from the insurer to the reinsurer. The reinsurer and the insurer enter into a reinsurance agreement which details the conditions upon which the reinsurer would pay the insurer's losses (in terms of excess of loss or proportional to loss). The reinsurer is paid a reinsurance premium by the insurer, and the insurer issues thousands of policies.

For example, assume an insurer sells one thousand policies, each with a $1 million policy limit. Theoretically, the insurer could lose $1 million on each policy – totaling up to $1 billion. It may be better to pass some risk to a reinsurance company (reinsurer) as this will minimize the insurer's risk.

There are two basic methods of reinsurance:

1.Facultative Reinsurance In facultative reinsurance, the ceding company cedes and the reinsurer assumes all or part of the risk assumed by a particular specified insurance policy. Facultative reinsurance is negotiated separately for each insurance contract that is reinsured. Facultative reinsurance normally is purchased by ceding companies for individual risks not covered by their reinsurance treaties, for amounts in excess of the monetary limits of their reinsurance treaties and for unusual risks. Underwriting expenses and, in particular, personnel costs,are higher relative to premiums written on facultative business because each risk is individually underwritten and administered. The ability to separately evaluate each risk reinsured, however, increases the probability that the underwriter can price the contract to more accurately reflect the risks involved.
1.Treaty Reinsurance is a method of reinsurance requiring the insurer and the reinsurer to formulate and execute a reinsurance contract. The reinsurer then covers all the insurance policies coming within the scope of that contract. There are two basic methods of treaty reinsurance:
Quota Share Treaty Reinsurance, and
Excess of Loss Treaty Reinsurance.