The reinsurance company is reinsuring one or more risks covered by a business casualty policy. The business casualty policy is typically issued in the jurisdiction where the insured business has its primary or home office. The reinsurance company is not a party to that primary insurance contract. The reinsurance company cannot issue a policy directly to the insured business.
The reinsurance company can only reinsure the risks of an existing insurance contract. This involves a contract between the insurance company (i.e. the insurer that issues the policy to the insured business) and the reinsurance company. The reinsurance transaction takes place in Turks and Caicos.
About the Author: Josh Miner
Involved in the financial services industry for over twenty years, Josh is a nationally known sales and marketing coach for financial advisors and Managing Partner of Spike Sales, LLC, located in Dana Point, California.
Spike Sales provides comprehensive sales and marketing solutions for financial professionals. Josh has been a speaker and content provider for the Fortress and is our Marketing Director. Fortress partners with Spike Sales to handle the management of the day to day marketing functions. Spike Sales team oversees advisor support, web technology management, business development and many other valuable functions needed in today's ever-changing marketplace.