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SELF-INSURANCE BASICS
REINSURANCE Reinsurance can offer two purposeful benefits: ● SPECIFIC reinsurance against a single claim that
exceeds a dollar limit of exposure, selected by the Business Owner or
Association Group. In the case of a
catastrophic accident, the specific reinsurance coverage purchased would pay
for all covered costs and expenses above the specific dollar limit selected. ● AGGREGATE/STOP-LOSS coverage insures against all
claims combined that exceed the annual or specific aggregate dollar limit
agreed by contract. It is recommended
that Business Owner GROUPS purchase both “Specific and Aggregate/Stop Loss
Reinsurance”.
F. Darrell Lindsey State Approved
Captive/RRG Manager
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BACK – USE ARROW TO PRINT USE PRINT PREVIEW |
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