Improvement of financial settlement rules in reinsurance
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Date
2019
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
Economically substantiated insurance rates, insurance reserves, reinsurance, own funds and a reinsurance system ensure the financial sustainability of the insurance company. With the development of the insurance market in Georgia, the reinsurance practice is developing. It is noteworthy that large insurance companies in Georgia prefer to cooperate with well-known foreign reinsurers, which, in their opinion, simplifies reinsurance
risk management.
The need for reinsurance is driven by the high degree of financial risk inherent in a market economy, which is directly dependent not only on natural disasters but also on the economic crisis, inflation, political situation and other socio-economic anomalies.
The insurer shall be entitled to cover the risk through reinsurance to another insurer (reinsurer) for the whole or partial fulfillment of its obligations to the insurer.
Description
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Keywords
reinsurance commission, Original, broker, Insurance, Fixed interest, Floating scales, Step ladder, Tantima, Premium Depot
Citation
The 4th International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2019, pp. 171-173