Search for: "Commercial Risk Reinsurance Company Limited"
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11 Jul 2019, 11:40 am
” RPGs, unlike risk retention groups, are not insurance companies at all, but rather are entities formed for the sole purpose of purchasing commercial liability insurance, which makes them easier (and cheaper) to establish and take to market than their risk retention group counterparts. [read post]
27 Jun 2011, 2:55 am
As a small concession to foreign companies, Resolution 35,794 provides that for risks exceeding US$50 million, this excess amount may be ceded to Admitted reinsurers without the need for prior authorization from the SSN (though the first US$50 million must be placed with Local reinsurers). [read post]
9 Mar 2011, 7:13 am
With this change, New York and Florida now constitute the vanguard of states to accept that lower collateral requirements for reinsurance ceded to highly rated reinsurers makes sound commercial sense. [read post]
18 Aug 2008, 10:08 am
The reclassification focuses on the respective risk profiles of the class 3 companies. [read post]
5 May 2022, 1:46 pm
Moreover, the negotiations between commercial insurance buyers and commercial insurers, as well as insurance companies and reinsurers, are often facilitated by specialized brokers. [read post]
27 Jun 2023, 12:00 am
Several reinsurers revealed in their formal interviews that they would need access to retrocession (reinsurance for reinsurance companies) to support further growth. [read post]
9 Mar 2011, 5:00 am
Should the Second Circuit Reverse the District Court’s Judgment in Scandinavian Reinsurance Co. v. [read post]
3 Jan 2013, 8:30 am
Here is some guidance: As described below, the Insurance Code limits the insurer's right to cancel coverage under the following types of liability insurance coverage: (1) general liability; (2) professional liability (other than medical professional liability); (3) commercial automobile liability; (4) commercial multi-peril; and (5) any other types or lines of liability insurance designated by the Texas Department of Insurance. [read post]
1 Aug 2019, 6:39 am
Predictably, insurers and reinsurers—as they have done historically with other major risks like terrorism that have proven difficult to assess and costly to assume—are first moving to limit their exposure to cyber risks by introducing and invoking exclusions to the coverage they offer (for example invoking war risk exclusions in property policies to avoid covering cyberattacks). [read post]
7 Feb 2019, 6:21 am
This is a particularly acute concern for reinsurers—companies that provide stop-loss coverage, or protection against unsustainably costly claims, to other insurers—making both reinsurers and primary cyber insurance providers naturally hesitant to support more extensive cyber underwriting. [read post]
28 Dec 2007, 8:16 pm
But unlike normal reinsurance agreements, commercial insurers pay nothing up front for the reinsurance. [read post]
29 Jan 2020, 9:26 am
In part due to the global reinsurance market retreating from assuming terrorism risk exposures, the TRIA was enacted to provide a federal backstop in the form of reimbursement for insurance carriers that insure commercial property and casualty terrorism risks in the event of an act of terrorism that is certified by the U.S. [read post]
8 Apr 2019, 6:31 am
Florida has proposed eliminating the limit on surplus lines broker fees (currently $35 per policy) and to instead allow for any “reasonable” policy fee. [read post]
1 Oct 2007, 7:10 pm
August 10, 2007.Here is a link to the decision.This case was originally edited by David Pilley.Weyerhaeuser Company Limited (“WCL”) negotiated terms and placed various insurance policies with the American International Group (“AIG”). [read post]
3 Oct 2022, 8:10 am
An open question in some states is whether a reinsurer licensed as a DSLI is sufficient for a ceding company to take credit for reinsurance against its statutory liabilities. [read post]
13 Aug 2008, 12:40 pm
The Bill also contemplates allowing RRGs to provide commercial property insurance if its state of domicile adopts standards for examination authority, audits by certified public accountants, accounting practices and procedures, filings with the NAIC, valuation of investments, safety and liquidity of investments, liabilities and reserves, actuarial opinions, capital and surplus, corrective actions, holding company systems, risk limitations and… [read post]
24 Apr 2020, 2:23 pm
In California, under Business Interruption Survey (March 26, 2020) all admitted and non-admitted insurance companies have been requested to provide certain information on their business interruption and related coverages provided under their commercial insurance policies. [read post]
22 Aug 2019, 9:31 am
The usually predictable world of portfolio transfers received a jolt on 16 August when Mr Justice Snowden declined to exercise his discretion to sanction the proposed insurance business transfer of a £12.9 billion book of in-payment annuities from The Prudential Assurance Company Limited (“Prudential”) to Rothesay Life Limited (“Rothesay”). [read post]
27 Jul 2012, 7:47 am
Insurers in the UK can reinsure with Pool Re. their commercial property liabilities for terrorism claims in excess of their self-insured retention. [read post]
27 Jul 2012, 7:47 am
Insurers in the UK can reinsure with Pool Re. their commercial property liabilities for terrorism claims in excess of their self-insured retention. [read post]
