To WhomFacultative reinsurance is commonly purchased for large, unusual or catastrophic risks. Reinsurers thus must have the necessary resources to underwrite individual risks carefully. Other uses of facultative reinsurance include:
BenefitsThis policy shall be extended to cover loss or damage due to strike, riot and civil commotion which for the purpose of this endorsement shall mean loss of or damage to the property insured directly caused by:
- Increases the underwriting capacity of the insurer.
- Protects against a catastrophic loss, which helps to stabilize profits.
- Reduces the unearned premium reserve.
- Allows an insurer to exit a territory or line of insurance by transferring the whole policies of the territory or insurance line to a reinsurer.
- Reinsurers can provide advice about specific lines of insurance to insurance companies that are starting up or entering a new line of insurance business.
Cover all loss or damage which occur within the geographical limits of Sri Lanka.
PROCUREMENT OF RETROCESSION PROGRAMME TO COVER 30% COMPULSORY REINSURANCE CESSION FOR THE PERIOD FROM 01.01.2018 TO 31.12.2018 (BOTH DAYS INCLUSIVE)Download Document
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