Page 90 - Reinsurance Management IC85

Reinsurance Management

Q. What are the essential ingredients of suitable
administrative machinery in dealing with
treaties of reinsurance on international level.

Ans: The important ingredients are :-
a. Staff: Well qualified and experienced underwriters
and other supporting staff who are conversant
with insurance and reinsurance business in
various parts of the world. Market changes
should be taken note of immediately.

b. Information System: Information system must
be kept up to date with countrywise and
companywise information. Various periodicals and
publications should be studied for culling out the
information.

c. Accounts and Statistics: The accounts system
should be able to keep a track of all accounts.
Suitable follow up must be there on settlement of
balances. Statistics should be prepared for
accumulation controls and for periodical review of
the business.

Sashi Publications - www.sashipublications.com 89

ight@ The Insurance Times. 09883398055 / 0988338