Forms of REINSURANCE in United States. Learn to Lower Your Premium!

One of the primary sources of information for use in underwriting property and liability risks are:
(1) Information included in the application;
(2) Dunn and Bradstreet;
(3) Mechanical and electrical engineers’ reports. Other sources range from the selected services discussed below
(4) Check your car insurance

The fireplace Marshal Reporting Service. A reverse phone lookup (FMRS) reports to fireplace marshals in 27 states unstoppable claims its members have paid. Furthermore, the FMRS maintains an index on reported fire losses in every state which any member may use to discover the prior loss record of a claimant.

The Burglary and Theft Loss Index. Utilization of the Burglary and Theft Loss Index enables a part to detect simultaneous claims on a single item or perhaps a claim on a loss which is why the claimant has previously been reimbursed.
The National Automobile Theft Bureau. This is a service organization sponsored, operated, and based on approximately 500 insurance providers writing automobile, fire and theft insurance. The Bureau assists inside the recovery of stolen automobiles, investigates automobile and theft losses which may be fraudulent, and promotes programs built to prevent or reduce such losses.

The Index System. The Index System accumulates and offers to its subscribers records concerning third-party personal and bodily injury claims.
In the processing of claims, the indexes from the American Insurance Association (AIA) might be checked to ascertain whether or not the claimant has had some losses or perhaps is submitting claims for the similar loss along with other companies.


Reinsurance is simply a transaction between insurance firms through which risk exposures are redistributed. In fact, reinsurance could be thought as the “insurance of insurance.”7 Reinsurance is a vital arrangement that is used to spread or layer the liability on high volume risks. The Reinsurance Facilities Corporation reported that 20 insurers, including re insurers, were involved with since the grain elevator explosions that took place the U.S. in 1977, when 54 persons were killed and $50 million in property damage was caused. Greater than 120 insurers were associated with covering damage carried out 1979 to Pennsylvania’s Three Mile Island nuclear power plant, insured for more than $300 million.7
Reinsurance involves a transfer of risk from one insurance carrier to a new. The organization that originally issues anything may be the direct writer or ceding company. The business agreeing to accept all or an element of the risk is the re insurer.