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LIABILITY EXCESS OF LOSS REINSURANCE
A cedant (large insurer in a large market) bought a
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TREATY REINSURANCE FOR PROJECT INSURANCE PORTFOLIO
Sydney Opera House is a famous landmark. Its construction was
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ISSUES WITH LONG-TERM NON-LIFE POLICIES
One of the very common Long-term non-life policies are Project
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CAT XL ON RISK ATTACHING DURING (RAD) BASIS
Normally CAT XL is bought on a Loss Occurring During
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Bermuda
Bermuda reminds us of beatiful beaches as well as the
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POLITICAL RISK EXCLUSION UNDER REINSURANCE TREATIES
Political risk is normally excluded under most reinsurance treaties. Political
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IMPACT OF FIRE RATE INCREASES ON GIC RE PERFORMANCE GIC RE Domestic fire earned premium in 2018-19 was INR 22150
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Yesterday, Nagarajan Girishankar in one of his posts asked about Indian D&O premium and loss data. And we can get
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The true underwriting performance of any non-life insurer is it Gross Loss Ratio. Gross Loss Ratio = (Gross Incurred Claims/Gross
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Why Property Underwriters should regularly pray & have strong belief in GOD A large IAR policy is due for renewal
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Sunday Blog-Down the memory lane I was heading Property Underwriting & Risk Management in a Direct insurer. By then, I
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I had spent the first 11 years of my career in the Public Sector and the next 24 years in
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Health Insurance in 2023-24 constitutes over 40% of the non-life insurance premium. It includes Individual Health, Group Health, Government Schemes
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The following are the loss ratios of Group Health for the four-year period from 2019-20 to 2022-23: Public Sector: 106%,
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Health Insurance is a long-term product. Non-Life Insurers mindset is short-term. They are used to annual policies. They have inability
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I had bought an indemnity-based health insurance policy from a life insurer in 2009. That was the short period in
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Star Health Insurance: Quarter 3 FY 2023-24 Results Analysis Topline Growth:16.5% Bottomline Growth: 38.1% Brilliant results in an industry
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The General Insurance Council introduced “Cashless Everywhere”. Health insurance customers can choose from over 40,000 hospitals across India to get
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14th & 15th December 2023, BSE Index went up by around 2%. However, Listed Life Insurers on an average fell
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Let’s consider the below news that appeared in 2016: QUOTE An arbitration tribunal in Singapore has ruled in favour of
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In yesterday blog, I mentioned about the Section Warranty. I had mentioned one of the many wordings used by the
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We see large number of Warranties and Clauses in Project Insurance Policies. Wordings of these Warranties and Clauses are brilliantly
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CAR and EAR policies are Project Insurance Policies. In projects, Contractors Plant and Machinery (CPM) like Cranes, Forklifts, etc are
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In my 35 years journey in non-life insurance, I have seen many insureds declaring their sum insured based on their
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In a Laghu Insurance Policy, the schedule mentions that Building Covered for Rs 10 crores. – The definition of Building
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IRDAI has completely withdrawn the tariffs. Pricing was freed earlier, now even the wording has been completely freed. There is
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A risk has been covered under the Fire Policy. It had a Reinstatement Value Clause. A fire took place, and
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Insurers prefer to use “Turnover” as an index of activity compared to “Output”. However, some clients insist on an Output
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Terrorism coverage under the standalone Terrorism and Sabotage Insurance Policy is defined as: “An Act of Terrorism means an act
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Recently I made a blog on Ultimate Net Loss Clause (UNL Clause) and explained what is UNL and what is
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Yesterday, when I wrote the blog on clean cut accounting, one of our friends asked me to explain as how
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WHAT IS ULTIMATE NET LOSS (UNL)? Before we get into the clause, let us understand what is UNL? If we
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Major functions of Reinsurance are A) To provide capacity B) Catastrophic Protection C) Stabilize Loss Ratios D) Mechanism to Exit
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When we were talking about Hours Clause in CAT XL, we talked about “Number of Occurrences” and its impact on
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Yesterday, I had given a problem related to claim recovery. I requested for responses either in comments or in my
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Why should any individual buy a particular insurance policy? Insurance is a Risk Management tool. If an incident in the
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If we leave the Motor, Health, and Crop portfolio, Fire is the largest portfolio for any Indian Insurer. It is
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Insurance losses develop over years. Estimates of outstanding losses at end of each financial year are provided by each insurance
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