Reinsurance costs always figure into the cost of providing insurance to the consumer but most of the time that’s in the background. Recently, reinsurance has figured prominently in the insurance marketplace because of a rise in reinsurance premiums and a reduction in reinsurance availability. This session is designed to help us to understand what reinsurance is, why companies need it, and what that means to the insurance market as a whole.

By the end of this session, participants should be able to:

• Define reinsurance, including facultative reinsurance and treaty reinsurance.
• Describe the purposes of reinsurance in the insurance marketplace.