Kotpar (specific shared reinsurance)
- The reinsurance agreement was concluded before the production.
- in each policy issued after the kotpar reinsurance agreement, the parties share the liability, premium and damage.
- the maximum limit of the reinsurer in each policy can also be set as an amount.
Portions exceeding the limit may be secured by reinsurers as discretionary reinsurance.
Characteristics of jeans
- the application is simple .
- it's free of charge. It allows you to distribute the risk to large areas at a low cost.
- the reinsurance commission received by this company is high, but the premium transfer is also high.
- it is the safest type of reinsurance for small and newly established companies.
- ensures the safety of the insurance company by ensuring that the retention share can be kept low in case of catastrophic risks.
Your Excellency ( my love is a price reinsurance)
- it is the most widely used type of trete in the type of divisional reinsurance.
- policies that fall below the company's retention share of the sedan remain out of the share.
Therefore, not every policy is transferred to a reinsurer.
- Reinsurance policies are policies that exceed the company's retention share.
- The storage share of the sedan may vary depending on the risks.
Characteristics of the exedan
- the responsibility transferred by the sedan to the reinsurer may also be at different rates depending on the risks.
- a company has the opportunity to use its job acceptance capacity to the maximum extent possible.
- this company has reinsured the risks that it is not actually loaded with.
- Each company determines different retention shares for each risk according to its own structure before entering into the exedan agreement.
- the storage share of a company is called a plen or line.
- since the retention share is determined at different rates according to different risks, the damage / premium ratio will be able to develop in such a way as to protect the company from the overwhelming losses of damages, but to allow strategies that can improve its own assets.
Types of non-divisional reinsurance
* excess of damage reinsurance (excess of loss)
* total damage surplus reinsurance (stop loss)
Excess of damage reinsurance ( excess of loss)
- the agreement between the sedan and the reinsurer is on decommissioning.
- in reinsurance policies, the reinsurer is responsible if the damage exceeds the share of the company previously determined.
- the reinsurer receives a certain fee (price / rate) from the sedan company for this responsibility.
Usually this fee is a certain percentage of the annual premium total of the branch in question.
- cumulus protects the company from catastrophic damage.
Total damage surplus reinsurance (stop loss)
- protects the sedan up to a limit against total damage that will hit the storage share of a branch.
- if the total damages exceed a certain proportion of the total premium income (gross - net) of the previously determined branch, the excess part is paid by the reinsurer to the same company.
- it is usually applied in agricultural insurance that carries the risk of climate change.
The benefits of reinsurance
- the main objective is to protect the security purchased by the insured by preventing insurance companies from entering into commitments that exceed their powers.
- increases job acceptance capacity.
- increases the volume of admission by region. It provides an easy and cost-free way to enter or exit any area.
- Distribution of risk over large areas and ensures effective functioning of the law on large numbers.
- provides financial support to insurance companies. When sharing the damage with the reinsurer, it also provides income with the reinsurance commission.
- financial and technical information support of the reinsurer is vitally important for newly established or small, developing insurance companies.
- reinsurers have knowledge about the status of risks in the world and their management. Insurance companies need this information.
- Reinsurance allows insurance companies to diversify the risks remaining in their portfolios.
Basic and technical terms related to insurance:
- subscription policy
- transcendental insurance
- all hazards ( all risk)
- geographical boundaries
- double insurance
- missing insurance
- integral exemption
- ex Gratia ( grace) payment
- price (rate)
- damage
- preventing damage
- real full damage
- complete damage to the judgment
- hebrew
- damage/premium ratio
- harm / loss
- the first fire policy
- year of work
- partial damage
- partial insurance
term
- co-insurance
- commission
- beneficiary
- tables of mortality
- exemption
- collateral damage
-the agreed policy
- force majeure
- common idler
- common cause
- ability to meet obligations
- joint insurance
- special conditions
- package policy
pert
- transfer of policy
- premium
- reassurance
- reinsurer
- reinsurance commission
- reinsurance profit commission
- rejistro
- retrocession - the retrocession
- storage allowance ( conservation )
- sedan
- sesyon
- refresh
- insurance start date
- the cost of insurance
- insurance value
- insurable risk
- subject of insurance
- insurance policy
- insurance fraud
- insurance certificate
- Duration of insurance
- termination of insurance
- sovtaj
- compensation claim
- rights and obligations
- guarantee
- temporary exemption
- distant cause
- addendum
- compulsory insurance