Bailout for storm-tossed states
Article Abstract:
The passage of a disaster reinsurance bill in a House banking subcommittee promises to alleviate the plight of stormed-battered states. The legislation marks the first time that the federal government will engage in the disaster insurance business. Under the proposal, the Dept of the Treasury could provide voluntary, annual contracts to state-managed catastrophe funds for losses that exceed the state's financial capabilities to pay insurance claims on disasters that occur an average of once every 100 years. The legislation drew mixed reactions from trade and consumer groups.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Communications under wraps
Article Abstract:
Numerous court cases underscore the legal controversy surrounding privileged communications between reinsurers and cedants. The courts have, at various times, invoked laws - most significantly Rule 26 of the Federal Rules of Civil Procedure - to deny or affirm the right of policyholders or third party claimants to obtain access to these communications. Reinsurers and cedants can protect themselves from this ambiguity by demonstrating that communications are privileged under attorney work-product or attorney-client theories.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Using split dollar can solve estate planning problems. Level commissions can affect underwriting. World of underwriting continues to evolve
- Abstracts: Calling out before the flood. A capital question. Raising capital: a game of musical chairs
- Abstracts: Don't forget the underwriter. Putting paper in its place
- Abstracts: Survival of the fittest. Controlling our destiny. Allocating capital resources
- Abstracts: RIMS participants expect more from insurers and brokers. Distribution of assets - 1991. Best's rating monitor