Reinsurers should offer more than just reinsurance

Article Abstract:

Reinsurance companies need to offer more than just reinsurance to their clientele to achieve success in an increasingly competitive market. Customer service is the key to success and competitiveness in all business endeavors, and insurance companies and buyers of insurance will expect higher levels of service from reinsurers in the future. In addition to selling reinsurance, reinsurers will have to provide their clientele with strategies for buying coverage that cover all relevant risks while containing costs.

Property & Liability Insurance, Surety insurance, Management, Insurance industry, Property and casualty insurance

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Passing gear

Article Abstract:

The reinsurance industry's business focus is on nonstandard auto insurance coverage because those policies are priced higher than that for standard private passenger cars. The goal is to make an underwriting profit. Statistics reveal that with nearly $130 billion in total premium written in 1996, auto insurance is the single largest and most profitable segment of the US property/casualty insurance industry.

Fire, marine, and casualty insurance, Auto Insurance, Analysis, Automobile insurance

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