The legislation approved by Congress last month expanded the reach of sanctions so that the president may impose them on any firm that insures or reinsures
any shipments of refined petroleum into Iran.
The captives, say the study, are then negotiating with the networks to reinsure
the multinational pool, thus bringing more cost reduction.
Under a 1979 DOL ruling, companies that wanted to use captives to insure or reinsure
employee benefits would have had to arrange the transaction so that no more than 50% of the captive's business was related to its parent.
A risk that is difficult to reinsure
on a stand-alone basis is more reinsurable in a whole-account stop-loss cover for several reasons.
The case for independent audits is strengthened dramatically by the tendencies of today's market, including recent evidence that reinsurers may be pulling in their horns and that ceding companies may be faced with having to retain more and reinsure
We underwrite and reinsure
the equipment breakdown on a wide range of businesses and institutions," said David Schraeder, western regional vice president responsible for his company's alternative risk transfer segment.
CMRC management has committed to building a well diversified book of both proportional and non-proportional mortgage guaranty reinsurance, and to only reinsure
high quality financial guaranty business that meets the standards of its primary sponsor Capital Re.
The intent of the reinsurance provided by the captive was to reinsure
nearly 100% of all indemnity and allocated loss adjustment expense for the parent's risk, yet the captive contested the contract on the basis of ambiguous language.
The incentive for the insurer to reinsure
a portion of the bank's business is the belief that aggregate profits on the business will be greatly improved, even though a portion of the profits will be shared.
The rating affirmations follow Wilton Re's announcement of its intent to reinsure
approximately one-half of the life and annuity business of JPMorgan Chase & Co.