Reinsurance activity definition

Reinsurance activity means the drafting, offering, conclusion and performance of reinsurance contracts on the transfer, in part or wholly, of underwritten risk to a reinsurance company;
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Reinsurance activity means the conclusion and implementation of reinsurance contracts by the licensed companies in order to carry out insurance activity, insuring that part of risk, which exceeds the maximal coverage by the insurance company.
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Reinsurance activity means an entrepreneurial activity that involves insuring the risk related to a full or partial fulfillment of obligations of other insurers towards their policyholders;
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Examples of Reinsurance activity in a sentence

  • Reinsurance activity is monitored and managed via the Reinsurance Steering Committee and a review of reinsurer effectiveness is performed annually.

  • He wants the town to look good, and farming in town will not do that.

  • Reinsurance activity for 2002, 2001 and 2000 is summarized as follows (in thousands): Direct Assumed Ceded Net -------- --------- ---------- --------- 2002 -------- Premiums written .

  • Reinsurance activity within insurance groups is a common practice.

  • Reinsurance activity in Brazil has begun in 1808 with the ports opening to the international trade.

  • The Law on Insurance and Reinsurance activity partially transposes the provisions of the EU Directive 2009/138/EC by establishing new capital and prudential requirements, governance, and risk management standards for insurance companies.

  • Reinsurance activity is reported in reinsurance recoverable, funds held by reinsurers, amounts receivable under reinsurance contracts, claims unpaid, ceded reinsurance premiums payable and funds held under reinsurance treaties in the statutory statements of admitted assets, liabilities, and surplus.

  • Examine and, where appropriate, implement new HR management systems involving devolution of greater responsibility, authority and responsibility to line managers, in particular in relation to performance issues.


More Definitions of Reinsurance activity

Reinsurance activity means economic and commercial activities whereby risk transferred by an insurance or reinsurance undertaking is assumed. Activities whereby an insurance or reinsurance undertaking, except for Lloyd’s Association, assumes risk transferred by any member of Lloyd’s shall also be considered as reinsurance activity.
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Reinsurance activity means business activity consisting in accepting risks ceded by an insurance undertaking, an insurance undertaking from another Member State, a third-country insurance undertaking, or by a reinsurance undertaking, a reinsurance undertaking from another Member State, or a third-country reinsurance undertaking; reinsurance activity also includes the acceptance of risks, ceded by any member of the association of underwriters known as Lloyd’s, by an insurance or reinsurance undertaking, an insurance or reinsurance undertaking from another Member State, or a third-country insurance or reinsurance undertaking.
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Related to Reinsurance activity

  • Insurance Act means the Insurance Act, 1938;

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Insurance Fund means the pest control insurance fund established pursuant to this compact.

  • insurance period means a contribution period or an equivalent period;

  • Insurance Authority means the Insurance Authority of Hong Kong established pursuant to section 4AAA of the Insurance Ordinance.

  • Credit unemployment insurance means insurance:

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Insurance Regulator means, with respect to any jurisdiction, the Governmental Authority charged with the supervision of insurance companies in such jurisdiction.

  • Flood Insurance Study means the official report provided by the Federal Insurance Administration that includes flood profiles, the Flood Insurance Rate Map, the Flood Boundary and Floodway Map, and the water surface elevation of the base flood.

  • National Flood Insurance Program means the program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a Federal insurance program.

  • Flood Insurance Study (FIS means an examination, evaluation, and determination of flood hazards, corresponding water surface elevations (if appropriate), flood hazard risk zones, and other flood data in a community issued by the FEMA. The Flood Insurance Study report includes Flood Insurance Rate Maps (FIRMs) and Flood Boundary and Floodway Maps (FBFMs), if published.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Insurance Provider s Tender” means the completed Tendering Document submitted by the Insurance Provider to the Procuring Entity

  • Insurance carrier means every insurance carrier duly

  • Insurance Administration means, with respect to each Shared Policy, the accounting for premiums, retrospectively-rated premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of each of the Shared Policies; and the reporting to excess insurance carriers of any losses or claims which may cause the per-occurrence, per claim or aggregate limits of any Shared Policy to be exceeded, and the distribution of Insurance Proceeds as contemplated by this Agreement.

  • Reinsurance intermediary means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • Insurance Amount has the meaning set forth in Section 6.12(b).

  • Insurance Advisor means Aon Risk Services and any replacement thereof appointed by the Required Secured Parties and, if no Event of Default shall then be occurring, after consultation with the Borrower.

  • Insurance transaction means any transaction involving insurance primarily for personal, family, or household needs rather than business or professional needs that entails:

  • Insurance Contracts means all contracts and policies of insurance and re-insurance maintained or required to be maintained by or on behalf of any Grantor under the Loan Documents.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Flood Insurance Regulations means (a) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto, (c) the National Flood Insurance Reform Act of 1994 (amending 42 USC § 4001, et seq.), as the same may be amended or recodified from time to time, and (d) the Flood Insurance Reform Act of 2004 and any regulations promulgated thereunder.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Unemployment Insurance means the contribution required of Vendor, as an employer, in respect of, and measured by, the wages of its employees (or subcontractors) as required by any applicable federal, state or local unemployment insurance law or regulation.