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Reinsurance is the process by which an insurance company shares the risk that it assumes when it issues an insurance policy. For example, an insurance company that issues a $1 million life insurance policy may reinsure or have other insurers assume $900,000 of the risk. The insurance company issuing the policy thus “cedes” most of the risk to one or ...

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When an insured files a claim with his insurer to recover for a loss, the insurer may pay the amount requested without question, or it may begin the “adjustment” process.

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