Home > 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.
- Sõnaliik: noun
- Valdkond/domeen: Professional careers
- Category: Occupational titles
- Company: U.S. DOL
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Looja
- Jason F
- 100% positive feedback
(United States of America)