Approved for Reinsurance
Definition
- Signifies that a company has the certifications required to provide reinsurance in a specific area. Restrictions for reinsurance differ depending on the country, province or state a company resides in.
Synonyms
recognized reinsurer, licensed for reinsurance
Related Terms and Acronyms
- Ceding Party — Definition,
- In reinsurance, a ceding party is an insurance company that spreads liability to a reinsurer in order to lower risk.
- Lloyd's of London — Company,
- A market for insurance and reinsurance based in London, England where Lloyd's members, underwriters and financial backers can spread and share risk.
- Reinsurance — Definition,
- The process of one insurance company sharing liabilities from an insurance policy with another insurance company in order to lessen exposure, or in other words, insurance for insurers.
- Reinsurance Ceded — Definition,
- The amount of insurance that is reinsured with another insurance company.
- Reinsurer — Definition,
- An insurance company that provides coverage for a portion of another insurance company's risk.
