A reimbursement system that protects insurers from very high claims. It usually involves a third party paying part of an insurance company’s claims once they pass a certain amount. Reinsurance is a wa [..]

The practice of sharing insurance risk among several insurance companies, in case of major disasters such as floods, hurricanes, etc.

The transfer of part of the insurance risk to another insurer or insurers--self-funded plans generally buy specific and/or aggregate stop-loss coverage to cover losses in excess of certain limits (also known as excess loss coverage). (See Attachment Point)

Insurance for third-party payers to spread their risk for losses (claims paid) over a specified dollar amount.

In effect, insurance that an insurance company buys for its own protection. The risk of loss is spread so a disproportionately large loss under a single policy doesn't fall on one company. Reinsu [..]

A transaction in which one party, the "reinsurer," in consideration of a premium paid to it, agrees to indemnify another party, the "reinsured," for part or all o [..]

Reinsurance is insurance for insurance companies. It can be used to cover different risks for insurers. For example, to make sure they can pay a large number of claims  in a natural disaster or to cov [..]

An agreement by which one insurance company transfers to another carrier part or all of its risk of loss under its policies by means of a separate contract or treaty with another insurance company. Th [..]

The insurance that is sold to companies that sell insurance to the public, thus protecting them, in turn, from major losses due especially to major disasters such as hurricanes and floods.

The spreading of risks in the insurance market. A company will insure a risk and then pass on some of its exposure by taking out reinsurance contracts with other companies.

A form of insurance that insurance companies buy for their own protection – a sharing of insurance. An insurer (the ceding company) reduces its possible maximum loss on any one individual by selling a portion of its liability to another insurance company (the reinsurer).

Reinsurance companies protect insurance companies against catastrophic losses. Reinsurance companies, including General Re, owned by Berkshire Hathaway Inc., expects to suffer $2.2 billion in losses in the Sept. 11 attack. Authorities are investigating whether al Qaeda agents might have sold short in three reinsurance companies whose prices fell sh [..]

Definition The sharing of insurance policies among multiple insurers, to reduce the risk for each.

A method utilized by insurance companies to distribute insurance risk when one organization has accepted part of the risk for insurance underwritten by a different organization to share in the premium [..]

insurance or indemnification by a second insurer of all or part of a risk assumed by another insurer as contracted for by the first insurer see also cede compare direct insurance, retrocession

Process by which an insurance company obtains insurance on its insurance claims with other insurers in order to spread the risk.

a transaction between a primary insurer and another licensed (re) insurer where the reinsurer agrees to cover all or part of the losses and/or loss adjustment expenses of the primary insurer. The assu [..]

A type of protection purchased by some managed care companies from insurance companies specializing in underwriting specific tasks for a stipulated premium.

An arrangement in which an insurer passes risk and obligations to another insurer.

The practice whereby one insurer transfers part or all of the risk it has accepted to another insurer (the reinsurer).

Insurance bought by insurance companies (insurers). A reinsurer, such as an reinsurance company, assumes part of the risk and part of the premium taken by the original insurer. Reinsurance effectively increases an insurer's capital and therefore its capacity to sell more insurance. Reinsurers do no pay policyholders' claims, instead they [..]

The transfer of a portion of primary insurance risks to a secondary tier of insurers (reinsurers); essentially 'insurance for insurers'.

A form of insurance where one insurance institution (e.g. an export credit agency) assumes part of the risk initially assured by insurance institution. Reinsurance serves several functions, including [..]

Insurance companied often pass on the risk to other insurance companies that specialize in the business of insurance risk. They are referred to as reinsurers.

(n) sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured

A means of sharing risk in the insurance business. Typically, the amount originally insured (usually by a private sector insurer) is totally or partially reinsured by an official (government) insuranc [..]

The procedure used by insurance companies to reduce the risks associated with underwritten policies by spreading risks across alternative institutions, portioning out pieces of a larger potential obli [..]

 A form of insurance that insurance companies buy for their own protection, used and required to pay for losses and claims.

A way of sharing risk by insurance companies through the buying of insurance policies through each other.

Insurance purchased by one insurance company from another that helps cover higher risk policies.

The acceptance by one or more insurers, called reinsurers, of a portion of the risk accepted by another insurer who has contracted for the entire coverage. Reinsurance can be treaty or facultative.

Insurance bought by insurers. A reinsurer assumes part of the risk and part of the premium originally taken by the insurer, known as the primary company. Reinsurance effectively increases an insurer&# [..]

See marine reinsurance (supra).

Under this system, one insurer accepts insurance from another insurer. There are various types of reinsurance, as there are specialist reinsurance companies and brokers

A form of insurance that enables an insurer to be indemnified or reimbursed in the event of covered losses claimed under insurance policies the insurer has issued.

Insurance for insurance companies. When an insurance company has too large a to carry alone, they purchase insurance from a reinsurer. The process is transparent to the policyholder.

A risk-management tool for insurance companies. It transfers risk from one insurance company to another. For example, a primary insurance company will agree to insure an airline’s fleet of planes for $10 billion. Through separate reinsurance contracts, the primary insurance company will pay premiums to nine other insurance companies to accept $1 bi [..]

In effect, insurance that an insurance company buys for its own protection. The risk of loss is spread so a disproportionately large loss under a single policy doesn't fall on one company. Reinsurance enables an insurance company to expand its capacity; stabilize its underwriting results; finance its expanding volume; secure catastrophe protec [..]

An agreement between two or more insurance companies by which the risk of loss is proportioned. Thus the risk of loss is spread and a disproportionately large loss under a single policy does not fall [..]

Insurance bought by insurers. A reinsurer assumes part of the risk and part of the premium originally taken by the insurer, known as the primary company. Reinsurance effectively increases an insurer&# [..]

The practice of insurers transferring portions of risk to other parties to reduce the likelihood of having to pay a large claim.

(1) A contract of indemnity against liability by which the insurance company procures another insurance to insure against loss or liability by reason of the original insurance; (2) Insurance [..]

Agreement between insurance companies under which one accepts all or part of the risk for the other.

Insurance brought by Insurers in order to mitigate risk. A reinsurer agrees to pay specific losses incurred by an Insurer in return for a part of the premium paid to the Insurer.

Insurance protection bought by an insurer to limit its own exposure. The availability of reinsurance protection allows an insurer to expand its own capacity to take on risk. Without a reisurance facil [..]

A position whereby one insurer transfers all or part of its risk of loss to another insurer. The other insurer is called the “reinsurer” or reinsurance company.

Form of insurance that insurance companies buy for their own protection, "a sharing of insurance." An insurer (the ceding insurer) reduces its possible maximum loss on either an indi [..]

Insurance of an insurer; a contract that one insurer makes with another insurer to protect the first insurer against loss or liability arising out of a risk it has already assumed.

An agreement to indemnify a primary insurer by a reinsurer in consideration of a premium with respect to agreed risks insured by the primary insurer. The enterprise accepting the risk is the reinsurer [..]

A contract of indemnity against liability by which the insurance company procures another insurance to insure it against loss or liability by reason of the original insurance. Insurance by one insuran [..]

Reinsurance is the insurance from a third party of the insurance coverage offered by the insurer or more simply, the part of insurance risk undertaken by an insurer from another specialized insurer ca [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not [..]

Insurance bought by insurers. A reinsurer assumes part of the risk and part of the premium originally taken by the insurer, known as the primary company. Reinsurance effectively increases an insurer&a [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

(1) A contract of indemnity against liability by which the insurance company procures another insurance to insure it against loss or liability by reason of the original insurance. (2) Insurance by one [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

An arrangement between an insurer and a reinsurer to “reinsure” all or parts of the original insurance policy taken out with the insured.

Insurance purchased by an insurance company for its own protection generally against large and/or catastrophe losses.

The insurance by one insurer of liability or another insurance carrier under its insurance or reinsurance policies.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

This is a method by which the Insurer transfers the risk under a High Sum Assured Policy to another entity (who will be called the Reinsurer) on payment of a Reinsurance Premium.

Insurance bought by insurers. A reinsurer assumes part of the risk and part of the premium originally taken by the insurer, known as the primary company. Reinsurance effectively increases an insurer&# [..]

A contract of indemnity against liability by which the insurance company procures another insurance to insure it against loss or liability by reason of the original insurance.

The practice whereby one party, the reinsurer, in consideration of premium paid, agrees to indemnify another party, the reinsured, for part or all of the liability assumed by the reinsured under a pol [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

In effect, insurance that an insurance company buys for its own protection. The risk of loss is spread so a disproportionately large loss under a single policy doesn’t fall on one company. Reinsurance enables an insurance company to expand its capacity; stabilize its underwriting results; finance its expanding volume; secure catastrophe protection [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Insurance bought by insurers. A reinsurer assumes part of the risk and part of the premium originally taken by the insurer, known as the primary company. Reinsurance effectively increases an insurer&a [..]

An arrangement between an insurer and a reinsurer to "reinsure" all or parts of the original insurance policy taken out with the insured.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not [..]

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

Insurance purchased by insurance companies to provide a risk transfer mechanism. Also used by self-insurers and self-insured groups.

Acceptance by an insurer called a reinsurer, of all or part of the risk of loss of another insurer. Thus, the risk of loss is spread and a disproportionately large loss under a single policy does not fall on one company.

See Excess of Loss Reinsurance.

See Quota Share Reinsurance.

See Stop Loss Reinsurance.

it is insurance of the insurer. It is done by means of division of insured risks which are partially ceded to the reinsurer for a certain amount of reinsurance premiums.

1. A contract of indemnity against liability by which the insurance company procures another insurance to insure it against loss or liability by reason of the original insurance. 2. Insurance by one insurance company of all or part of a risk accepted by it with another insurance company which agrees to reimburse the insurance company for the portio [..]

The acceptance by one or more insurers, called reinsurers, of a portion of the risk accepted by another insurer who has contracted for the entire coverage. Reinsurance can be treaty or facultative.

A form of insurance bought by insurance companies to protect themselves from the risk of large losses. One insurer pays to place part of an insured risk or an entire book of business with one or more [..]

A block of business reinsured.

Reinsurance is an insurance agreement or contract under which one insurer, called the ceding company, is indemnified against loss by another insurer, called the reinsurer, arising out of an insurance [..]

The practice whereby one party, called the reinsurer, in consideration for a premium paid to him, agrees to indemnify another party, called the reinsured or ceded party, for part or all of the liabili [..]

This term describes the process in which a (semi-autonomous) pension fund covers all or some risks through a collective insurance contract with an insurance company.

The shifting by agreement (known in the insurance industry as a "treaty") of part of the risk (or "exposure") of the original insurer (the ceding company) to another insurer (the reinsurer). Sometimes a reinsurer will, in turn, pass on part of its risk to another reinsurer through a process known as retrocession. International r [..]

Reinsurance is insurance for insurance companies and employers that self-insure their employees’ medical costs. Through government-funded reinsurance programs, federal or state governments pay for a portion of the high costs experienced by insurers. By limiting insurers’ exposure to very high health costs, reinsurance programs enable insurers to lo [..]

An insurance arrangement whereby the managed care organization or provider is reimbursed by a third-party for costs exceeding a pre-set limit, usually an annual maximum. A method of limiting the risk that a provider or managed care organization assumes by purchasing insurance that becomes effective after set amount of health care services have been [..]

Insurance purchased by an insurer, often to protect against especially large risks or risks correlated to other risks the insurer faces.

The name given to the business of a self-employed, full-time or part-time insurance agent.

All the related processing steps in the in-force business operating systems.

Amount paid by a reinsurer to an insurer before the exact extent of liability is known.

System, external to the SAP insurance system, which supplies data.

Form of insurance that insurance companies buy from other insurance companies for their own protection and to cover risks.

The payment agreement regulates the settlement of payment business between contract partners. This includes, for example:

System for managing insuring policies.

Natural or legal person who takes out an insurance policy with an insurance company.

Relationship or agreement between two parties that represents the contractual or legal basis of cash flows such as an insurance contract, a claim or a guarantee agreement. A legal relationship is repr [..]

Element of a document with information on an item. This information is specific to the document type.

Existing quantity of certain objects (contracts or products for example) from an enterprise. In-force business is divided into different segments depending on certain business views (room or product l [..]

Insurance bought by insurers. A reinsurer assumes part of the risk and part of the premium originally taken by the insurer, known as the primary company. Reinsurance effectively increases an insurer&# [..]

The noting in a public office of the details of a legal document – such as a deed or mortgage – affecting the title to real estate. When such an instrument is properly recorded, it is considered to be [..]

To insure again by transferring to another insurance company all or part of an assumed liability, thus spreading the loss risk any one company has to carry.

The spreading of risk and division of client premiums among insurance companies allowing the sharing of the burden of a large risk.