What is cyber Risk? According to the Institute of risk management (IRM), ‘Cyber risk’ means any risk of financial loss, disruption or damage to the reputation of an organization from some sort of failure of its information technology systems.  All types of organizations regardless of size are at risk of…

Unlike In proportional Reinsurance arrangements where in exchange for a fixed share of liabilities, the reinsurers receive an equivalent share of original premiums written by the insurer, Non-Proportional Reinsurers charge a premium at the beginning of the reinsurance period to cover for claim costs, acquisition, and administration expenses for the…

The term reinsurance recoverable refers to the portion of an insurance company’s losses from claims that can be recovered from reinsurance companies Understanding Reinsurance Recoverables. Insurance companies primarily make money from their underwriting activities. When an insurer underwrites a new policy, it collects premiums from policyholders. But it also takes…

The reinsurance broker key function it is to bridge the reinsurance needs of the reinsured and reinsurer to secure reinsurance terms agreeable to both parties. The reinsurance broker  often will assist the reinsured in planning and developing its reinsurance program, put together the reinsurance proposal (called the placing information) and…

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