Re-insurance definitions clarify risk transfer, contractual documentation, operational roles, business segments, and statutory interpretation for IFSC insurance offices. Re-insurance terminology distinguishes cedants, cessions, retention, retrocession, fronting and Alternate Risk Transfer arrangements. A legally binding ... Summary
Re-insurance definitions clarify risk transfer, contractual documentation, operational roles, business segments, and statutory interpretation for IFSC insurance offices.
Re-insurance terminology distinguishes cedants, cessions, retention, retrocession, fronting and Alternate Risk Transfer arrangements. A legally binding re-insurance contract may be evidenced by a re-insurance slip, cover note or other suitable document; treaties govern technical and financial terms for defined business classes or segments. Re-insurers include IIOs, Indian insurers, foreign insurers and foreign re-insurers conducting re-insurance business. Insurance pools allocate predetermined shares of written business among participating IIOs, while insurance segments cover specified non-life and life classes, additional material miscellaneous sub-segments, and segments specified by the Authority.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.