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LSDefine

Simple English definitions for legal terms

reinsurer

Read a random definition: Defender of the Faith

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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Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
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