Reinsurance is an insurance product for insurance companies, enabling them to transfer some of their risks to a reinsurance company. By removing some of the risks from its own books, an insurance company can take on more business, diversify its risks, and safeguard...
Policyholders of the insolvent Legion and Villanova Insurance companies who can show that they have third-party beneficiary rights have direct access to reinsurance proceeds, the Pennsylvania Supreme Court affirmed July 19, 2003 (M. Diane Koken v. Legion Insurance...
