Consistent Information Captives are looking for consistent information on bonuses and fees. For example, a prisoner may receive a claim that borders on his right in Singapore. The owner will then check with his own network to check on the spot if the right has arrived. If this information is not communicated consistently, the prisoner`s vote can be very difficult. Intermediate clause – A provision in reinsurance contracts that identifies the intermediary negotiating the agreement. Most intermediary clauses shift the entire credit risk to reinsurers by providing that payments from intermediary to intermediary are considered payments to the reinsurer; and payments made by the reinsurer to the intermediary are only made when the retiree has actually been received. Tax Reform Act 1988 – The substantial amendment imposed by this Act concerned offshore group captives, as the definition of a U.S. shareholder was changed from a 10% or more stake to a stake. Contract – The written contract defining the reinsurance contract. The contract contains provisions defining the terms of the contract, including the specific definition of risk, data on limits and retention, as well as provisions for payment of premiums and maturity.
Stop-loss Agreements Prisoners are naturally interested in limiting their exposure to the net side and, as a result, it will often have a stand-alone stop-loss agreement for prisoners. The insurer declares all claims to the prisoner, who must then assess whether the threshold for all stop-loss agreements is reached. With a single withdrawal unit, the insurer can set up an automatic notification system when the threshold is reached and the stop-loss agreement comes into effect. This means that from that date, the rights will no longer be transferred to the prisoner, but the prisoner will have to check the cheque fees, which will reduce the cost of monitoring the damage. Frontage – most often involves the practice of an unlicensed insurer (or an insured with an insurance company) that issues a contract with a licensed insurer for the issuance of an insurance policy for regulatory or certification purposes. This insurer leaves because of a small or no loss, exposed to risk; instead, financial arrangements are made to manage and pay the receivables.