Types of insurance;
• social insurance - private insurance
* compulsory insurance - discretionary insurance
* property - life - liability insurance
* life insurance - non-life insurance
The distinction between social insurance and private insurance:
1- social insurance
- it's mandatory.
- it's state-sponsored.
- standard premiums are taken from all participants, standard guarantees are given.
- the goal is the public interest.
2- private insurance
- most of them are optional .
- most of them do not have state support.
- a personal premium is charged and a deposit is provided.
- its purpose is to protect the insured's own special interest.
✓ optional private insurances
* life - personal accident - health
* casco insurance
• theft
* fire insurance
* housing insurance
* engineering insurance
• transportation insurance
✓ compulsory private insurance
* traffic insurance
* compulsory financial liability insurance for medical practice
• private security liability insurance
* hazardous materials hazardous waste compulsory liability insurance
* Tubgas compulsory liability insurance
* marine pollution compulsory liability insurance
What does reinsurance mean?
- insurance companies in the amount they can carry the risk they take on in-house after leaving part or all of the risk that they would not move to another insurance company or reinsurance company in order to secure the assignment, the specific process reinsurance ( reinsurance - reasurance ) - re-insurance - repeated Insurance - Re-Insurance is called .
- reinsurance is carried out both in the field of goods and liability, and in the field of life.
History of reinsurance
- the first insurance policy is accepted, which is issued in 1347, when an assurance is concluded about the course of a trading boat.
- in 1370, the first reinsurance agreement on transport reinsurance for a ship traveling from Genoa to northern Europe was accepted.
- as of the figure, it is considered as an discretionary reinsurance agreement.
- The date of the Trek type reinsurance agreements is 1821.
Technical terms:
- resuscitation , reinsurer
- retrosecion , retrosecionary
- storage allowance , conservation , plen
- sesyon
- transferred premiums, received premiums
- commissions received, commissions given
- reinsurer's share of damage
trete
- kotpar , excellency, discretionary , excess of loss , stop loss, open couverture
Retention share
- the highest amount of insured coverage that the insurance company can leave in its structure is called the retention share, conservation, plen.
- the capital of the insurance company, its prudences, premium income, the type and characteristics of the risk are important in determining the retention share.
Types of reinsurance agreements
1- discretionary reinsurance agreements
2- compulsory reinsurance agreements
3- mutual business exchange
Types of discretionary reinsurance
- divisional reinsurance
- non-divisional reinsurance
Types of compulsory reinsurance
1- divisional reinsurance agreements
* kotpar (specific shared reinsurance)
* eksedan ( price reinsurance of love)
2- non-divisional reinsurance agreements
* excess of loss (more than damage)
* stop loss (total damage surplus)
Discretionary reinsurance
- it's optional. The insurance company is free to reinstate the risk, and the reinsurer is free to accept it.
- the definition of risk is important due to the principle of maximum goodwill.
- reinsurance of large and specific risks is usually carried out by discretionary reinsurance.
- it can be arranged for the purpose of reinsurance of parts that exceed the limits of mandatory reinsurance agreements.
- the cost is high, the loss of labor and time is high.
Compulsory ( automatic ) reinsurance
- reinsurance terms are not optional. Reinsurers and insurance companies are obliged to transfer and accept jobs automatically.
- liability sharing is carried out on the insured amount, that is, the maximum coverage or damage.
- there are types of reinsurance with and without division.
