Insurance Journal's Academy of Insurance

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Reinsurance Basics: Why Does This Matter?

Reinsurance Basics: Why Does This Matter?

Quick Overview

Reinsurance is important because it figures into the insurance company's ability to pay claims and reduce their own risk. Join us as Academy Director of Education, Patrick Wraight brings this session designed to introduce participants to the concept of reinsurance, why insurance companies need it, and what it's there for. 


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Duration 1 hour
Location Online Webinar
Formats On-Demand
Instructor Patrick WraightPatrick Wraight

Reinsurance costs always figure into the cost of providing insurance to the consumer but most of the time that’s in the background. Recently, reinsurance has figured prominently in the insurance marketplace because of a rise in reinsurance premiums and a reduction in reinsurance availability. This session is designed to help us to understand what reinsurance is, why companies need it, and what that means to the insurance market as a whole.

By the end of this session, participants should be able to:

  • Define reinsurance, including facultative reinsurance and treaty reinsurance.
  • Describe the purposes of reinsurance in the insurance marketplace.
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