Reinsurance Group is also responsible for developing specialized software packages that allow its client companies to respond to the consumers' demand for speedy service, including underwriting decisions made in a timely manner.
When there is high risk on either one particular insurance plan, or when there are several plans with high risk, you are probably going to either need to be reinsured or your insurance company will need to purchase reinsurance.
Many large-scale employers opt for reinsurance policies in addition to their regular insurance policies due to the sheer number of people they employ and the potential that at least one or more may need reinsurance benefits.
General Electric would retain about 10 percent of the organization's stock, but the company had to give up complete control and no longer was able to use the name GE Employers Reinsurance to describe their holdings.
If you're looking for information on GE Employers Reinsurance, you may be surprised to know that this organization, which was under the umbrella of the General Electric Company, has not been in operation since 2005.
Its largest shareholder is the famous investing guru and philanthropist Warren Buffett, and it's main product offering is reinsurance, which helps to protect other insurance companies from financial losses.
When an insurance company buys a reinsurance policy, it is protecting itself from the risk that comes with having to pay out a large amount of claims or claims that could potentially cause monetary losses.
Excess of loss reinsurance, which is also known by the term "nonproportional reinsurance," is actually a type of reinsurance that can work in three ways - per risk, per annual aggregate, or per occurrence.
Reinsurance helps to spread out the financial burden that these occurrences place on the insurance company so that it can pay out all of the claims it's required to without suffering financially.
Those interested in reinsurance can still inquire about a policy not only from Swiss RE, but also from Munich Re, Odyssey Re, and dozens of other companies based in the United States or abroad.