Andrew wrote:
>Reinsurance weaves a complex web. An insurance company assumes risks.
>Then the insurer buys insurance to cover their risk. That's
>reinsurance. The reinsurer buys reinsurnace to cover *their* risk. My
>understanding is that many companies are both insurers and reinsurers.
>Often a
Reinsurance weaves a complex web. An insurance company assumes risks.
Then the insurer buys insurance to cover their risk. That's
reinsurance. The reinsurer buys reinsurnace to cover *their* risk. My
understanding is that many companies are both insurers and reinsurers.
Often a reinsurer is reinsu
Rob Schaap wrote:
>Are there large companies in America who specialise in reinsurance, such that
>risk might be less than ideally distributed?
Yes, but not just in the U.S. Two of the biggest reinsurers are
European - Swiss Re and Munich Re (who are, by the way, both very
concerned about clima
NBC reckons there's a 'gentleman's agreement' between traders that they will
not sell the market short. Didn't Greenspan organise something like this
after the '87 hiccough? Is this sort of horizontal dealing okay? I'm sure
it's necessary, but is it technically legitimate?
Cheers,
Rob.
>Don't insurance companies insure themselves?
>I thought it was called reinsurance.
>
> That is correct.
But interesting things come up when a really horrible event, or confluence of
events, occurs. If memory serves, Australia's own HIH got itself deeply into
reinsurance, and the complexity of
>Date: Fri, 14 Sep 2001 10:33:35 -0400
>
>Don't insurance companies insure themselves?
>I thought it was called reinsurance.
That is correct.
--jks
_
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Don't insurance companies insure themselves?
I thought it was called reinsurance.
mbs
This all seems weirdly ghoulish, but CNBC had an insurance pundit on
earlier today who said the WTC was insured for terrorism, and that he
expected big claims would be paid. The consensus is that payments
co
Justin Schwartz wrote:
>>Would it make any difference. Would insurance ever cover acts of terrorism?
>>I thought that damage due to terrorism or insurrection would be
>>automatically excluded. But no doubt someone with more expertise can set us
>>straight.
>
>No, an insurance policy t is a contra
PEN-L <[EMAIL PROTECTED]>
>Sent: Wednesday, September 12, 2001 11:43 AM
>Subject: [PEN-L:16987] "an act of war" & insurance payments
>
>
> > If this talk of an "act of war" leads to the War
> > Powers Act being invoked, does that let the insurance
- Original Message -
From: Gar Lipow <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Thursday, September 13, 2001 1:32 AM
Subject: [PEN-L:17006] Re: "an act of war" & insurance payments
> Without being an authority: acts of war are ALWAYS excluded. (There are
Sent: Wednesday, September 12, 2001 11:43 AM
> Subject: [PEN-L:16987] "an act of war" & insurance payments
>
> > If this talk of an "act of war" leads to the War
> > Powers Act being invoked, does that let the insurance
> > companies escape from making pa
liability for damages that might be caused by nucelar hydro power
reactors as I understand!
Cheers, Ken Hanly
- Original Message -
From: Tim Bousquet <[EMAIL PROTECTED]>
To: PEN-L <[EMAIL PROTECTED]>
Sent: Wednesday, September 12, 2001 11:43 AM
Subject: [PEN-L:16987] &q
Another estimate puts the insurance costs at $5 billion. In any case,
the insurance industry will be glad to learn that the owner of the WTC,
the Port Authority of NY and NJ, insured only one of the towers.
http://news.independent.co.uk/world/americas/story.jsp?story=93613
Life insurance benefit
At 09:43 AM 9/12/01 -0700, you wrote:
>If this talk of an "act of war" leads to the War
>Powers Act being invoked, does that let the insurance
>companies escape from making payments on the damage?
isn't that one of the key roles for declarations of disaster areas?
>My reading of the Chron this m
If this talk of an "act of war" leads to the War
Powers Act being invoked, does that let the insurance
companies escape from making payments on the damage?
My reading of the Chron this morning suggests that the
total hit for insurance companies is on the order of
$20 billion-- by far the largest
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