Summary |
This book is an attempt to clarify the concept of reinsurance prevalent in the insurance industry, and it also discusses the issues such as the role of reinsurance in the insurance system; the level or reinsurance required by primary insurers, the reinsurance management strategies for primary insurers. It gives an overview of reinsurer bankruptcies in a global context.
Since the contract of reinsurance is based on utmost faith, the content of the book includes topics such as standard provisions in reinsurance contracts and occurrence of error in a reinsurance relationship.
The book also covers the global trends with respect to reinsurance, where the reinsurers are reverting to their core specializations. There exists pressure on pricing the risks right, especially after the 9/11 event.
The concepts in the book are supported by cases that discuss the evolution of reinsurance, the regulations, the importance of reinsurance markets and future outlook. The book covers three well-known reinsurance companies – Munich Re, Swiss Re and General Insurance Corporation of India. Other two cases talk about reinsurance in China and Bermuda reinsurance market respectively.
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