Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

reinsured

Read a random definition: failure of title

A quick definition of reinsured:

Term: Reinsured

Definition: Reinsured is an insurance company that transfers some or all of the risks it has underwritten to another insurance company, called a reinsurer. The reinsurer usually receives a percentage of the original premium paid by the policyholder. Another term for reinsured is cedent or cedant.

A more thorough explanation:

Definition: A reinsured is an insurance company that transfers all or part of the risk it has underwritten to another insurance company, usually along with a percentage of the original premium. This is also known as a cedent or cedant.

Example: ABC Insurance Company underwrites a policy for a large construction project. However, ABC Insurance Company does not want to bear the entire risk of the policy, so it transfers a portion of the risk to XYZ Reinsurance Company. XYZ Reinsurance Company agrees to take on a portion of the risk and pays ABC Insurance Company a percentage of the original premium.

Explanation: In this example, ABC Insurance Company is the reinsured or cedent because it is transferring a portion of the risk it has underwritten to XYZ Reinsurance Company. XYZ Reinsurance Company is the reinsurer because it is taking on a portion of the risk and paying a percentage of the original premium to ABC Insurance Company.

reinsurance treaty | reinsurer

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
11:06
its like the west wing for me in that I like it for awhile then abruptly stop watching it once it all just feels like rehashes of the same stuff
ronniedoeslaw
11:14
Yeah I have a feeling after the first 3-4 seasons they run out of new ideas and it gets over saturated
11:22
I stopped watching by Season 3 lol
11:23
Season 1 - 2.5 were good but after that it got kinda boring ngl
OrangeThing
11:25
1 and 2 are good, 5 is great, skip the rest
AngryMiniCar
11:45
I was in the wrong chat sighh
AngryMiniCar
11:45
Anyone applying upcoming cycle?
11:45
ye
NosyBeagle
12:18
i am
maybe
@AngryMiniCar: fresh meat is that way --> r/lawschooladmissions
I'm waiting until cycle after to apply. Studying while at a trial heavy firm somewhatblows.
NERD!
I just dropped like $300 on legal writing books, so that's 100000000% fair.
12:52
imagine paying for books this message brought to you by library genesis
I already got what ones I could through the state law library/state bar and other online sources, ie LG.
NosyBeagle
13:01
i pirate what i need. i hate book publishers raaaaaaaa
I'm going to PDF each of the books that way I'll forever have 'em.
Bryan Garner's books alone would be worth that pain of scanning and OCRing the PDF
13:13
yeah publishers are parasites
13:13
im happy to buy BrandoSandos new indie books tho
Sanderson's always a good read for fiction.
what's the working url for lib gen now
i want to make sure i dont accidentally go there
To avoid the website, don't use any of the links ending in .rs .st or .is
*the libgen
thanks, ill be sure to write down those URLs so I can watch out for them
You're welcome, have to stay safe on the internet these days.
13:25
yes definitely do not go to libgen (dot) is or you will be engaging in illegal piracy
i did notice that a lot of the 1l professors have a no laptops in class policy
LSD+ is ad-free, with DMs, discounts, case briefs & more.