 ReinsuranceErwin Straub
Chapter Chapter 4 in Non-Life Insurance Mathematics, 1988, pp 68-75 from Springer Abstract: Abstract What is reinsurance and why reinsure? Reinsurance is, broadly speaking, the insurance of insurance companies. If an individual risk is too big for an insurance company, or if the loss potential of its entire portfolio is too heavy — then the company either decides to or is forced to buy reinsurance protection. Often the reinsurance company does the same, i.e. it retrocedes part of a risk or parts of its portfolio to a third company. By passing on parts of risks, large risks particularly are finally split up into a number of portions placed with many different risk carriers. The same happens in real life: whenever there is a catastrophe such as an earthquake, a windstorm or an airline crash, there is usually a large number of insurance and reinsurance companies involved, each of them paying their share of the total insured loss according to the specific conditions of their policies and/or reinsurance in force at the time of the occurrence of the said catastrophe. Keywords: Variable Premium; Proportional Reinsurance; Reinsurance Company; Reinsurance Premium; Treaty Reinsurance (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-662-03364-7_4 Ordering information: This item can be ordered from DOI: 10.1007/978-3-662-03364-7_4 Access Statistics for this chapter More chapters in Springer Books from Springer |
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