Across
- 3. An intermediatary involved in negotiating insurance contracts
- 5. Funds set aside by an insurer to meet its future financial obligations
- 8. Denotes magnitude of the financial loss
- 9. A specific band of losses covered by a reinsurance contract
- 10. A single event impacting a large number of risks simultaneously
- 11. A reinsurance arrangement where reinsurer accepts all risks of a specified class of policies from the insurer
- 13. Reinsurance purchased for a single/specific risk
Down
- 1. Denotes how often a risk or incident occurs over a given period
- 2. An insurance company that transfers parts of its risk to a reinsurer
- 4. Measurable unit of the risk insured
- 6. The principle of restoring the insured to the financial position they were in before the loss
- 7. Process by which a reinsurer assumes the legal rights of the insurer to pursue recovery from the at-fault third party
- 12. The amount/proportion of risk or liability that an insurer keeps instead of reinsuring