Sir under reinsurance business and co insurance under which of these two the insured knows that his insurance is done by 2 cos.??

1 answer

Ravi Staff August 11, 2017

in co-insurance insure (person insured)  knows that 2 or more companies are taking responsibility.
in reinsurance , primary responsibility is of first insurance company, and at the back reinsurance company  reimburses claim money. In this arrangement, insure (person insured) generally doesn’t know about reinsurance company.
 

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