Topic: Explain Reinsurance
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Explain the concept of reinsurance. Why is it so important?
Reinsurance is the sharing or spreading of a risk too large for one insurer by ceding part of the risk to another company or reinsurer. For example, most companies place a limit on the amount of insurance they will risk on a single life; th... Read More »
Source: http://answers.yahoo.com/question/index?qid=20090124143756AAP74Vx
What does the term''reinsurance ceded'' mean in commerce explain ...
Insurance companies "cede" part of their risk to their reinsurers, which are insurance companies of insurance companies. Say you have a $1,000,000 liability policy, your insurance company may only want to take the risk of $500,000 & they wi... Read More »
Source: http://answers.yahoo.com/question/index?qid=20080213020150AAOWs5B
