Accueil >  Term: reinsurance clerk
reinsurance clerk

A professional who types reinsurance applications and contracts and calculates reinsurance liability, working for either prime insurer or reinsurer and by either of following methods. Respnsibilities include:

  • (1) Calculates reinsurance required on each risk, considering limit of liability.
  • Selects reinsurers who may accept part of ceded liability.
  • Types applications.
  • Computes amount of each premium due, using calculating machine.
  • Accepts reinsurers and their liability for cash values and dividends.
  • Prepares abstract for typing of contracts.
  • (2) Receives reinsurance application from prime insurer.
  • Determines amount of insurance already held on risk from company records and calculates reinsurance that company can accept, based on limit of liability.
  • Determines if reinsurance is automatic from treaty provisions and sends application to underwriting department when it is not automatic.
  • Types notice of acceptance or rejection, based on limit of liability, and action of underwriter.
  • Operates calculator to verify computations made by prime insurer.
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Créateur

  • Jason F
  • (United States of America)

  •  (V.I.P) 16216 points
  • 100% positive feedback
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