Reinsurance Claims Processes, Continuation

Why is timely reporting so important to reinsurers?Here are some basic reasons why reinsurers insist on timely reporting:i. FINANCIAL INFORMATION: The Reinsurer must reserve their exposures just like the Cedant, project payment of future settlements and promptly pay billings.ii. PRICING: The Reinsurer will need to know both the frequency and severity of reportable claims, in … Continue reading Reinsurance Claims Processes, Continuation