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LSDefine

Simple English definitions for legal terms

reinsurer

Read a random definition: subversive propaganda

A quick definition of reinsurer:

A reinsurer is a company that helps other insurance companies by taking on some of the risks they have agreed to cover. In return, the reinsurer receives a portion of the original payment made by the policyholder.

A more thorough explanation:

Definition: A reinsurer is an insurance company that takes on all or part of the risk that another insurance company has underwritten. In exchange for assuming this risk, the reinsurer receives a percentage of the original premium.

Example: Let's say that an insurance company has underwritten a policy for a large construction project. The policy covers the risk of damage to the construction site and any injuries that may occur during the project. However, the insurance company may not want to take on the entire risk of this policy, so they turn to a reinsurer. The reinsurer agrees to take on a portion of the risk, say 50%, in exchange for 50% of the original premium.

Explanation: This example illustrates how a reinsurer can help an insurance company manage its risk. By taking on a portion of the risk, the insurance company can reduce its exposure and protect itself from potential losses. At the same time, the reinsurer can earn a profit by assuming this risk and charging a premium for its services.

reinsured | reinvested dividend

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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