Show Me The Money
Money paid by ceding company to reinsurer.
What is reinsurance premium?
Reinsurance contract under which the reinsured company agrees to cede and the reinsurer agrees to assume a portfolio of risks of a particular class or classes of business
What is treaty reinsurance?
Code used to identify a cat event.
What is CAT code?
A limitation in an insurance policy on the amount of coverage available to cover a specific type of loss.
What is a sub-limit of coverage?
This icon in FIRST displays the reinsurance contracts attaching to a claim.
What is paperclip icon?
The total premium (direct and assumed) written by an insurer before deductions for reinsurance and ceding commissions.
What is Gross Written Premium?
A clause in a reinsurance agreement that provides for the valuation, payment, and complete discharge of some or all obligations between the ceding company and the reinsurer, including current and future obligations for reinsurance losses incurred.
What is a commutation clause?
Low probability, high cost events like wildfires, hurricanes, earthquakes. riots, and terrorist attacks.
What are Cat losses?
The maximum amount the insurer will pay for all claims resulting from a single occurrence
What is per occurrence limit?
This actor and tequila purveyor first rose to stardom as a professional wrestler.
Who is Dwayne Johnson?
The earned or written premium of a cedant to which reinsurance premium rate is applied to calculate the reinsurance premium.
What is subject premium?
This quarterback signed a 10-year contract worth up to $503 million.
Who is Patrick Mahomes?
Joe Exotic
Who is the Tiger King?
A limitation in an insurance policy on the amount of coverage available to cover a specific type of loss.
What is sub-limit of coverage?
Journal in FIRST that contains all ceded registration transactions for a claim.
What is ceded financial journal?
Used to verify direct and ceded financials that went downstream in order to complete a QC sample.
What is a Cognos query?
The amount of risk the ceding company keeps for its own account or the account of others.
What is retention?
A form of reinsurance that indemnifies the ceding company for the accumulation of losses in excess of a stipulated sum arising from a single catastrophic event or series of events.
What is catastrophe reinsurance?
Signal reserve that indicates a policy exposure of half the policy limits.
What is $2700?
Tool in FIRST to check cleared and open balances?
What is Jnquiry/Reporting?
The amount of premium (usually for an excess of loss reinsurance contract) that the ceding company pays to the reinsurer on a periodic basis during the term of the contract
What is deposit premium?
A contractual agreement for two or more reinsurance companies to share the fees and the potential costs of the coverage.
What is co-reinsurance?
Per occurrence catastrophe reinsurance contracts serve this function.
What is cat protection and stabilization?
Alfred said this to Bruce Wayne in The Dark Knight.
What is "Know your limits, Master Wayne"?
Aggregate claims created in FIRST have the claim prefix?
What is 1A6?