Since 1957 the major players in the world Reinsurance market have met at the Rendez-Vous de Septembre in Monte-Carlo. For more than sixty years now, the Rendez-Vous de Septembre has brought together the major players in the world Reinsurance markets in Monte-Carlo including reinsurers, insurers and brokers and also attracted a large number of lawyers, bankers, … Read moreRendez-Vous de Septembre
The length of time covered by the insurance, as shown on the current Certificate of Insurance.
Risks for which it is difficult for someone to get insurance. See Insurable Risk
That part of the reinsurance premium applicable to the unexpired portion of the policies reinsured.
A proportion of the premium due to the reinsurer retained by the ceding company as a guarantee for the fulfilment of the obligations of the reinsurer.
The portion of a premium already received by the insurer under which protection has not yet been provided. The entire premium is not earned until the policy period expires, even though premiums are typically paid in advance. That portion of the original premium that applies to the unexpired portion of risk. A fire or casualty … Read moreUnearned Premium
Underwriting result based on written premiums and ultimate losses from loss events falling within the same accounting period, where the accounting period is the period covered by the insurance policy or reinsurance agreement, regardless of when the premiums and losses are actually reported, booked or paid. For example, the 2019 underwriting Year includes results in … Read moreUnderwriting Year of Experience
The insurer’s profit on the insurance sale after all expenses and losses have been paid. When premiums aren’t sufficient to cover claims and expenses, the result is an underwriting loss. Underwriting losses are typically offset by investment income.
Examining, accepting, or rejecting insurance risks and classifying the ones that are accepted, in order to charge appropriate premiums for them.
The amount of insurance or reinsurance on a risk (or occurrence) which applies to a loss before the next higher excess layer of insurance or reinsurance attaches.