Insurance / Reinsurance

Insurance is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. Car and house insurance often come to mind, but there are many other types of insurance available. For example. Axis provides coverage for Technology & Cyber events, Environmental losses, Liability (Errors and Omissions, Directors, Professional), Property and numerous other categories.

Reinsurance is the practice whereby insurers transfer portions of their risk portfolios to other parties by some form of agreement to reduce the likelihood of paying a large obligation resulting from an insurance claim. Who knew Insurance companies need to be insured by an Insurance company?