Across
- 4. Reinsurance that transfers to the reinsurer liability for an entire type of insurance, territory, or book of business after the primary insurer has issued the policies.
- 9. A quota share reinsurance treaty in which the cession percentage retention varies based on specified predetermined criteria such as the amount of insurance needed.
- 11. A type of pro rata reinsurance in which the policies covered are those whose amount of insurance exceeds a stipulated dollar amount, or line.
- 12. A type of unsecured debt instrument, issued only by insurers, that has characteristics of both conventional equity and debt securities and is classified as policyholders’ surplus rather than as a liability on the insurer’s statutory balance sheet.
- 13. A reinsurance association that consists of several unrelated insurers or reinsurers that have joined to insure risks the individual members are unwilling to individually insure.
- 14. The price at which the stock or commodity underlying a call option (such as a warrant) or a put option can be purchased (called) or sold (put) during a specified period.
- 16. A replenishment of policyholders’ surplus provided by the ceding commission paid to the primary insurer by the reinsurer.
- 17. A financial market in which long-term securities are traded.
- 18. A group of insurers or reinsurers involved in joint underwriting to insure major risks that are beyond the capacity of a single insurer or reinsurer; each syndicate member accepts predetermined shares of premiums, losses, expenses, and profits.
- 19. A reinsurance agreement whereby one reinsurer (the retrocedent) transfers all or part of the reinsurance risk it has assumed or will assume to another reinsurer (the retrocessionaire).
- 20. The maximum amount of insurance or limit of liability that an insurer will accept on a single loss exposure.
- 21. The dollar amount above which the reinsurer responds to losses.
Down
- 1. A type of pro rata reinsurance in which the primary insurer and the reinsurer share the amounts of insurance, policy premiums, and losses (including loss adjustment expenses) using a fixed percentage.
- 2. A type of reinsurance in which the primary insurer and reinsurer proportionately share the amounts of insurance, policy premiums, and losses (including loss adjustment expenses).
- 3. The premium the primary insurer charges on its underlying policies and to which a rate is applied to determine the reinsurance premium.
- 5. The maximum amount that the reinsurer will pay for a claim and that is commonly stated in the reinsurance agreement.
- 6. The reinsurer that transfers or cedes all or part of the insurance risk it has assumed to another reinsurer.
- 7. The insurer that assumes some or all of the potential costs of insured loss exposures of the primary insurer in a reinsurance contractual agreement.
- 8. The amount retained by the primary insurer in the reinsurance transaction.
- 10. The reinsurer that assumes all or part of the reinsurance risk accepted by another reinsurer.
- 15. An organization of member companies that reinsure by fixed percentage the total amount of insurance appearing on policies issued by the organization.