Reinsurance 101

Reinsurance is a growing Industry and is a complex business. In this video I cover many of the basics and provide examples to help others understand and get a good overview of what Reinsurance is and its importance in our world.

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Reinsurance is Insurance for an Insurance company. I cover different types of reinsurance, Treaty vs. Facultative Contracts, Proportional vs Non-Proportional types, Run off vs Cut off contracts, reinsurers, reinsurance brokers, and much much more.

The job of reinsurance is to reduce the risk to an insurance company and share in covering the losses that a company pays out. The Insurance company cedes these losses in different way that I explain. The ceding company can have very complex accounting due to having to deal with many contracts that each differ in many ways.

We cover two main types of reinsurance, Quota Share agreements and Excess of Loss (XOL) agreements. Quota Share and Excess of loss are probably the 2 most common types of contracts and we dive into these in detail.

I hope this video helps you to understand the basics of Reinsurance and its importance to Insurance company's. Thank you for watching!

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*This Video is not meant to be professional advice, but is rather for entertainment purposes only. Take all of my videos as my own opinion, and at your own risk. This Video is accurate as of the posting date but may not be accurate in the future. Links above include affiliate commission or referrals.