Reinsurance is defined as insurance for insurers. It works by insurers transferring portions of their risk portfolios to other insurers in some form of agreement. The insurer that “buys” risk, or that “reinsures” an insurance policy is known as the “ceding” party. The party that accepts that part of the risk is the reinsurer. The Insitute of Insurance Information cites the Reinsurance Association of AmericaRead more
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