131290
General Insurance
- NON LIFE POLICIES - COVER PROPERTY NOT LIFE
- Types
- Home and Contents
- Motor Vehicle Insurance
- CTP
- Third Party, Fire and Theft
- Comprehensive
- CTP
- Business Insurance
- Mortgage Loss/
Lender's Mortgage
insurance/ Protgage
Protection Insurance
- Workers
compensation
insurance
- Travel Insurance
- Home and Contents
- Reinsurance
- Insurers transfer portions of risk portfolios to other parties by some
form of agreement in order to reduce the likelihood of having to pay a
large obligation resulting from an insurance claim
- This allows insurance companies to reduce their
risk associated with underwritten policies by
spreading risks accross alternative institutions
- Insurers transfer portions of risk portfolios to other parties by some
form of agreement in order to reduce the likelihood of having to pay a
large obligation resulting from an insurance claim
- Underwriting Cycle
- Premiums rise, terms and conditions tighten
- Insurers make profits,capital flows in, competition rises
- Premium rates fall, terms and conditions relax
- Insurers suffer losses, supply contracts
- Back to square one ^^^^^^^^^^^^^
- Back to square one ^^^^^^^^^^^^^
- Insurers suffer losses, supply contracts
- Premium rates fall, terms and conditions relax
- Insurers make profits,capital flows in, competition rises
- Premiums rise, terms and conditions tighten
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