What is Reinsurance
Reinsurance is insurance of insurance. Reinsurance is a contract that reinsurance companies indemnifies a primary insurer for losses paid...
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UNI Consulting
May 19, 20231 min
Predictive Modeling in insurance industry
Claims Forecasting - insurers can use predictive modeling to forecast the number of claims, cause of loss and severity of claims. Fraud...
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UNI Consulting
May 19, 20231 min
ROL
ROL is a term used to express the cost of reinsurance coverage as the percentage of the limit of coverage. ROL stands for "Rate on Line"....
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UNI Consulting
May 18, 20231 min
Facultative Reinsurance
A form of reinsurance that provides coverage for an individual or a group of risks. The reinsurance company has the right to accept or...
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UNI Consulting
May 14, 20231 min
CAT Model - PML
Insurance companies use CAT models to estimate potential losses from CAT events. These models generate a wide variety of outputs used for...
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UNI Consulting
May 14, 20231 min
Profit Participation Clause
A profit participation clause also called profit sharing or profit commission, is a provision that allows the primary insurer to...
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UNI Consulting
May 14, 20231 min
Navigate the World of Reinsurance
Insurance companies must manage their risk effectively to remain and profitable. Homeowners insurance companies are exposed to a...
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UNI Consulting
May 13, 20231 min
Buying Homeowner Insurance
Buying homeowner's insurance is an important in protecting your home and property. The first step is to understand what a homeowner...
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UNI Consulting
May 13, 20231 min
API and your business
APIs, or Application Programming Interfaces are powerful tools that can significantly contribute to the growth of your firm. API serve...
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UNI Consulting
May 10, 20231 min
Homeowners Insurance
A few factors might affect your homeowner insurance: your credit score, age of your home and your prior loss information. Coverage A of...
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UNI Consulting
May 9, 20231 min
Captive Insurer
A captive insurer can be an insurer or reinsurer. A captive insurer is an alternative form of risk management to meet specific needs of...
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UNI Consulting
May 8, 20231 min
Loss Corridor
Usually seen in treaty QS and expressed as a loss ratio. With Loss Corridor, the cedent retain100% losses when loss ratio exceed the...
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UNI Consulting
May 7, 20231 min
Base Rating Logic
Fire - territory factors; construction factors; protection factors; Hurricane - territory factors; mitigation factors; Liability premium...
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UNI Consulting
May 6, 20231 min
Base Rates
Expense fees per policy Loss costs per policy - historical loss and exposure data and distributions. The non-modeled perils are based on...
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UNI Consulting
May 6, 20231 min
Reinstatment Premium
Payment from the insurer to the reinsurer to reinstate the protection in the event some of the limit is eroded.
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UNI Consulting
May 4, 20231 min
What is IBNR Reserves
IBNR, also called Incurred but not reported losses. You would guess from the name that those losses are losses that have occurred but...
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