reinsurance

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reinsurance

Managed Care A type of protection purchased by HMOs or providers from insurance companies specializing in underwriting specific risks for a stipulated premium

reinsurance,

n insurance for third-party payers to spread their risk for losses (claims paid) over a specified dollar amount.
References in periodicals archive ?
The Reinsurer is not liable to pay such amount to the Reinsured jointly with the Broker as the Reinsurer signed the first cover note but did not sign the reinsurance contract (second cover note).
Despite these new onerous obligations, the Act does benefit reinsureds by providing that a reinsured may satisfy its duty of fair presentation if it discloses sufficient information that would put a prudent reinsurer "on notice" that it needs to make further enquiries to elicit material information.
Manulife had been a major player in the life retrocession market and the acquisition increased Pacific Life's reinsured in-force by $80 billion.
All information needed for the renewal (census changes, claims status coverage parameters) is sent to the reinsured electronically and returned electronically to the reinsurer.
It is expected that upon implementation of Phase I a small return premium will be paid to Reinsured Names.
For example, in Japan, where only 1% of direct business is reinsured, Reinsurance Group of America Inc.
Through a series of reinsurance agreements entered into immediately after the acquisition, approximately 42% of the business of the Chase Insurance Group, excluding the variable annuity business, has been reinsured to insurance subsidiaries of Wilton Re Holdings Limited and 100% of the variable annuity business has been reinsured to Allmerica Financial Life Insurance and Annuity Company, a subsidiary of The Goldman Sachs Group, Inc.
reinsurer might need to have an agreement with the reinsured to the effect that risks in violation of the U.
5 million term life insurance policies with guaranteed level premium periods reinsured by RGA Reinsurance Company, a U.
These Names refused to join Lloyd's "Reconstruction and Renewal" program, in which liabilities from 1992 and prior years were reinsured into Equitas, a runoff company established for that purpose.
The FSR of A- (Excellent) has been affirmed and ICRs of "a-" have been assigned to the following reinsured affiliates of Arch Reinsurance Ltd.
The variable business is expected to be reinsured with Goldman Sachs Risk Services.