QanA 57: 'What is reinsurance?' | Question an Actuary

Q: "What is reinsurance?"

A: Risks like disability or death can cause financial harm. You limit your losses with insurance.

Large claims or numerous claims can harm your insurer. Your insurer also limits losses with insurance.

Reinsurance is insurance for insurers.

You have no dealings with the reinsurer but benefit from their financial strength.

Q: Care to chat in private?
A: That's up to you.

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