Approved for Reinsurance

Definition

  • Signifies that a company has the certifications required to provide reinsurance in a specific area. Restrictions for reinsurance differ depending on the country, province or state a company resides in.

Synonyms
recognized reinsurer, licensed for reinsurance

Related Terms and Acronyms

  • Ceding Party Definition,
    • In reinsurance, a ceding party is an insurance company that spreads liability to a reinsurer in order to lower risk.
  • Lloyd's of London Company,
    • A market for insurance and reinsurance based in London, England where Lloyd's members, underwriters and financial backers can spread and share risk.
  • Reinsurance Definition,
    • The process of one insurance company sharing liabilities from an insurance policy with another insurance company in order to lessen exposure, or in other words, insurance for insurers.
  • Reinsurance Ceded Definition,
    • The amount of insurance that is reinsured with another insurance company.
  • Reinsurer Definition,
    • An insurance company that provides coverage for a portion of another insurance company's risk.
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