An Insurer who agrees to reimburse another Insurer in respect of claims on the latter’s liability.
An Insurer who agrees to reimburse another Insurer in respect of claims on the latter’s liability.
The reserve needed by an insurer to cover net level policies which are in their later years. Loosely speaking, the level premium system of paying for a long-term Life or Health policy involves overpayment in the early years and underpayment in the later years.