What does Approved Reinsurance mean? Read on to discover the definition & meaning of the term Approved Reinsurance - to help you better understand the language used in insurance policies.
Approved reinsurance is a product offered by insurance companies that a regulatory government agency deems stable enough to sell it. Reinsurance refers to the practice of an insurance company taking on some of the financial risk of other insurance companies in exchange for a regular fee. In other words, it is like insurance for insurance companies.
We hope the you have a better understanding of the meaning of Approved Reinsurance.