Nairobi Reinsurance deals with the following treaties, among others
Quota share reinsurance is a kind of pro rata reinsurance contract whereby an insurer agrees to share their premiums with the reinsurer so as to spread their risk. In return, the reinsurer commits themselves to share in the insurers losses and liabilities.
As Nairobi Reinsurance Brokers, we facilitate such contracts depending on the insurer's needs and reinsurer preferences with the aim of ensuring you as an insurer stay afloat even in the most challenging market conditions. Additionally, to make you safer, we also facilitate working excess of loss reinsurance contracts which further cushion your firm incase liabilities exceed the percentage covered for under the Quota Share Reinsurance contracts.
Surplus Share contracts are different from Quota Share Reinsurance contracts where the liabilities and premiums are shared between the insurer and reinsurer according to an agreed upon percentage,
In Surplus share contracts, the insurer and reinsurer agree upon a threshold called a line. Any of the insurer's liabilities (covered under the contract) above this line are ceded to the reinsurer. This kind of contract is mostly applicable in the property insurance sector.
At Nairobi Reinsurance Brokers, we facilitate such contracts to make sure that the sky is not your limit as an insurer. We believe that by breaking the ceiling for your firm, you become more profitable, protected and develop a good reputation in the eyes of your clients.
Working Excess of Loss
Working excess of Loss reinsurance contracts fall under Excess of Loss Reinsurance kind of contract which obligates a reinsurance firm to indemnify an insurer of all or some losses above an agreed upon threshold.
As Nairobi Reinsurance Brokers, we facilitate such contracts to protect you insurers, our clients, from unlimited liability which risks pushing an insurer into bankruptcy.
Catastrophe Excess of Loss
Catastrophe excess of loss is quite similar to excess of loss. However, the major difference is the fact that it pertains to losses brought about by catastrophic events such as natural disasters and post election violence which have the ability to completely sink an insurer in losses.
At Nairobi Reinsurance Brokers, we facilitate the acquiring of such reinsurance contracts to ensure that you as our client are not financially crippled by catastrophic events which tend to give rise to multiple legitimate claims within a very short period of time.
This is basically reinsurance in its purest form. Its purpose is to ensure that an insurance firm does not go under due to catering for losses above its abilities. Stop loss reinsurance ensures that an insurer cedes all losses above a specified limit to the reinsurance firm it is in a contract with.
Due to the high demands, sheer amount of risk and potentially high losses that stop loss presents to reinsurance firms, they tend to ask for unusually high fees and rightfully so.
At Nairobi Reinsurance brokers, we do our best to get our clientele the best stop loss deals from reinsurance firms. Our good relationship with reinsurance firms and our excellent negotiation skills will keep you well covered at all times. Give us a call today!
Fronting Reinsurance is especially employed in the captive reinsurance marketplace.
It is most commonly seen in situations where a commercial insurance firm ("fronting company") licensed to operate within a certain location insures a client but rather than keep the premium and liabilities for themselves, transfers them to another insurance or reinsurance firm, that may or may not be legally permitted to operate within that location.
According to the client, they are insured by the fronting company. However, they are usually completely insured by the insurer with whom their insurer, the "fronting company", has entered the fronting contract with.
At Nairobi Reinsurance Brokers, we facilitate such contracts for our clientele thus giving them a good reputation in the eyes of their customers by giving them the ability to 'take on any kind of risk'.