Types of REINSURANCE in United States. Learn to Lower Your Premium!

Among the primary resources for use in underwriting property and liability risks are:
(1) Information within the application;
(2) Dunn and Bradstreet;
(3) Mechanical and electrical engineers’ reports. Other sources range from the selected services discussed below
(4) Check your classic car insurance

The Fire Marshal Reporting Service. A reverse phone lookup (FMRS) reports to fireplace marshals in 27 states unstoppable claims its members have paid. Additionally, the FMRS maintains a catalog on reported fire losses in each and every state which any member can use to look for the prior loss record of the claimant.

The Burglary and Theft Loss Index. Use of the Burglary and Theft Loss Index enables a part to detect simultaneous claims on a single item or even a claim over a loss that the claimant has previously been reimbursed.
The nation’s Automobile Theft Bureau. This is a service organization sponsored, operated, and sustained by approximately 500 insurance providers writing automobile, fire and theft insurance. The Bureau assists in the recovery of stolen automobiles, investigates automobile and theft losses which can be fraudulent, and promotes programs designed to prevent or reduce such losses.

The Index System. The Index System accumulates and offers to its subscribers records concerning third-party personal and bodily injury claims.
In the processing of claims, the indexes from the American Insurance Association (AIA) could be checked to find out whether or not the claimant has had a number of losses or is submitting claims for the similar loss to other companies.


Reinsurance is simply a transaction between insurance providers where risk exposures are redistributed. In fact, reinsurance could be thought as the “insurance of insurance.”7 Reinsurance is a vital arrangement which is used to spread or layer the liability on high volume risks. The Reinsurance Facilities Corporation reported that over 20 insurers, including re insurers, were involved with covering the grain elevator explosions that happened in the U.S. in 1977, when 54 persons died and $50 million in property damage was caused. More than 120 insurers were involved with covering damage completed in 1979 to Pennsylvania’s Three Mile Island nuclear power plant, insured for more than $300 million.7 http://www.insurance.va.gov/miscellaneous/index.htm
Reinsurance involves a change in risk in one insurance company to a new. The business that originally issues the agreement is the direct writer or ceding company. The company receiving accept any an element of the risk will be the re insurer.