Introduction to Reinsurance.pdf - Prince Lobel
Introduction to Reinsurance.pdf - Prince Lobel
Introduction to Reinsurance.pdf - Prince Lobel
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Insurance/<strong>Reinsurance</strong><br />
Differences<br />
Insurance:<br />
<strong>Reinsurance</strong>:<br />
<br />
<br />
<br />
<br />
<br />
<br />
Buyers have varying<br />
knowledge levels<br />
Responds <strong>to</strong> an event<br />
Provides Defense and<br />
Indemnification<br />
Pays on behalf of<br />
Mainly a domestic<br />
enterprise<br />
Highly regulated<br />
<br />
<br />
<br />
<br />
<br />
Buyers assumed <strong>to</strong> be<br />
knowledgeable –no contra<br />
proferentem<br />
Provides Indemnification<br />
only<br />
Reimbursement contract<br />
International<br />
Unregulated