mükerrer sigorta

Turkish - English

Definition of mükerrer sigorta in Turkish English dictionary

reinsurance

An agreement between insurance companies under which one accepts all or part of the risk or loss of the other Most primary companies insure only part of the risk on any given policy The amount varies among carriers The remainder of the policy limits are covered by reinsurance entities The less primary risk that the company insures, the more premium it has to pay to the reinsurer to cover the remaining policy limits In general, smaller companies are able to cover only a relatively small proportion of the liability limit This results in large premium payments to reinsurers Larger companies can cover a large proportion safely, thus reducing the payments they must cede to reinsurers, which indirectly reduces the cost of insurance to their policyholders

Insurance purchased by an HMO, insurance company, or self-funded employer from another insurance company to protect itself against all or part of the losses that my be incurred in the process of honoring the claims of its participating providers, policy holders, or employees and covered dependents Also call risk control insurance or stop-loss insurance

The practice whereby one party called the Reinsurer in consideration of a premium paid to him agrees to indemnify another party, called the Reinsured, for part or all of the liability assumed by the latter party under a policy or policies of insurance which it has issued The reinsured may be referred to as the Original or Primary Insurer, or Direct Writing Company, or the Ceding Company

The business of insuring insurance companies By "ceding" a portion of its business to a reinsurance company, an insurer spreads the risk of exposure to catastrophic loss

sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured; "reinsurance enables a client to get coverage that would be too great for any one company to assume"

A form of insurance that insurance companies purchase from other insurance companies This is done to reduce the possible maximum loss on either an individual risk or a group of risks There are several forms of reinsurance, including: Coinsurance, Modified Coinsurance, and Yearly Renewable Term

(1) A contract of indemnity against liability by which the insurance company procures another insurance to insure against loss or liability by reason of the original insurance; (2) Insurance by one insurance company of all or part of a risk accepted by it with another insurance company which agrees to reimburse the insurance company for the portion of the claim insured

When insurance companies are unable to take on all of the financial risk associated with large insurance contracts, they can share the risk with other insurers They do this through reinsurance

{i} secondary insurance; renewed insurance

A transaction between two insurance companies in which one company purchases insurance from the other to cover part or all of the risks that the first company does not wish to retain in full See also ceding company and reinsurer

- A contractual relationship between two insurance companies under which one insurer assumes a portion of the risk of the insurance policy written by the other

The acceptance by one insurance company of a portion of a risk underwritten by another company In a type of reinsurance called facultative, the reinsurer retains the right to reject any specific risk presented by the reinsured

The spreading of risk and division of client premiums among insurance companies allowing the sharing of the burden of a large risk

Insurance a second time or again; renewed insurance

A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else

An agreement whereby the original insurer arranges to pass on all or part of the risk to another insurer known as the reinsurer, in consideration of the premium paid to the reinsurer The original insurer may be referred to as the primary insurer, the reinsured, or the ceding company The amount of liability retained by the original insurer is commonly called the retention of net line

*: 1) The acceptance by one or more insurers, called reinsurers, of a portion of the risk underwritten by another insurer who has contracted for the entire coverage; 2) The purchase of insurance by an insurance company from another insurance company (reinsurer) to provide it protection against large losses on cases it has already insured

A contractual relationship between two insurance companies under which one insurer assumes a portion of the risk of the insurance policy written by the other

– The practice of an HMO or insurance company of purchasing insurance from another company for protection against part or all the losses incurred in the process of honoring the claims of policyholders Also referred to as "stop loss" or "risk control insurance"

A contract which one insurer makes with another to protect the first insurer, wholly or partially, against loss or liability by reason of a risk under a separate and distinct contract as insurer of a third party Reinsurance differs from coinsurance in that, in the case of reinsurance, only one insurer has a direct contractual relationship with the insured, and that insurer (commonly referred to as the "lead insurer") purchases reinsurance in order to lessen or spread the risk The "lead insurer" will assume a risk up to a limit (the amount of which is referred to as the "retention") and any loss which exceeds this limit would be borne by the reinsurers In the case of coinsurance, each coinsurer has a direct contractual relationship with the insured, and the risk is shared in agreed-upon proportions from the first dollar of loss

Hyphenation

mü·ker·rer si·gor·ta