To begin with, almost all insurers buy insurance of their own, reinsurance, to deal with the biggest risks they face.
In return, the federal government backstops the firms with payments and reinsurance.
While devastating, Sandy is not likely to cripple the insurance or reinsurance industries with massive payouts.
The God Clause and the reinsurance IndustryBrendan Greeley, Businessweek The risk business can tell us a lot about catastrophes.
The problem is that reinsurance at magnitudes meaningful enough to make much difference to premiums gets expensive fast.
Very soon the question arose of the extension of the reinsurance treaty with Russia.
The aggregate of these sums makes up the "reserve" or reinsurance fund.
reinsurance treaties are abrogated unless invasion has made it impossible for the reinsured to find another reinsurer.
Contracts of reinsurance are often made by all insurance companies.
reinsurance contracts are abrogated unless invasion has made it impossible for the reinsured to find another reinsurer.