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An Evolution of Reinsurance
In the latest Willis Wire podcast I talk to Richard Mackillican, Communications Director of Willis Re, about how the reinsurance industry has evolved since I joined several years ago. Use the player...
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Alternatives to Burning Cost Rated Contracts
In one of my previous blogs I explained that certain types of contracts may be rated on a burning cost basis, where the final contract premium can only be calculated when the contract has expired and...
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Profit Commission in Proportional Treaties
Proportional reinsurance treaties can be quite complicated animals when it comes to handling their financial aspects. While the processing of the accounts is now largely a mechanical process,...
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Excess of Loss Reinsurance Contracts: LOD or RAD Basis?
When it comes to expressing the period applicable to an excess of loss reinsurance contract, there are two common ways of defining which losses fall within the contract period. Losses Occurring During...
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Clean-cut Reinsurance Treaties
When I began working in reinsurance 40 years ago, proportional treaty reinsurance was far more widespread than it is today and in fact formed the backbone of the reinsurance broker’s business. While...
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Dealing With the Big Stuff: Excess of Loss Reinsurance
A reinsurance contract can protect an insurer’s balance sheet against abnormal fluctuations in results that may be caused by large individual claims or by larger numbers of smaller claims that occur as...
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Another Level of Protection: What is a Reinsurance Treaty?
Just about all insurers, whether they are companies, Lloyd’s syndicates or mutual associations, need reinsurance. It protects the insurer’s capital base against the adverse effects of large individual...
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Excess of Loss Reinsurance: Per-Risk Contracts
In my previous blog in this series we explored the rationale behind excess of loss rating by looking at a facultative excess of loss placement. Now I want to move to the other side of the family tree...
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Video: How Reinsurance Training has Developed
Recently I spoke with Richard Mackillican, Communications Director for Willis Re, about the Reinsurance Training Programme and how the industry has changed since I joined over 40 years ago. The Willis...
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Gap Covers – Gone Forever?
Ideas and concepts rarely ever die, but get reinvented and reused from time to time. But I think I may have found a candidate for the graveyard. Surely gap covers could never return, could they? I...
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