An organization of Insurers and Reinsurers that share the underwriting, premium, losses and expenses in agreed upon percentages. (See also, Syndicate.)
An organization of insurers or REINSURERs through which pool members underwrite particular types of risks with premiums, losses, and expenses shared in agreed amounts. Also ASSOCIATION, (UNDERWRITING) SYNDICATE.
General: a common supply or shared use of equipment, workers or money, a readily available supply. In logistics usually used for equipment which was bought by a number of participants and is shared by all of them.
( groupement d'assureurs) A group of insurance companies who unite to underwrite some particular risk or certain types of risks. The collecting of premiums, paying of losses and expenses involved are divided on an agreed basis.
An organization in which insurers cover certain types of risks as a group and share premiums, expenses and losses. Pools are often used to underwrite larger risks.
An underwriting mechanism in which the participants share premiums, expenses, losses and profits for business written.
an organization of insurers or reinsurers through which particular types of insurance coverage are provided
Pooling is a risk spreading device. A pool is a joint underwriting operation of reinsurance and/or insurance in which the participants assume predetermined and fixed particular types of risks with premiums, losses and expenses shared in agreed ratios. A pool may be formed to share in a specialty insurance line that requires special expertise or to address market catastrophe exposure.
A group of insurance companies that join together to share certain risks, such as aviation liability, on an agreed-upon basis.
An organization of insurers or reinsurers through which particular types of risk are underwritten and premiums, losses and expenses are shared in agreed-upon amounts.
A method of distributing insurance risk, whereby, the individual participants share overall risk with the other participants.
Any joint underwriting operation of insurance or reinsurance in which the participants assume a predetermined and fixed interest in all business written.
Used by insurance companies to combine all premiums, claims and expenses in order to spread the risk of insurance coverage.
A pool is created when a number of insurers agree that all insurances of a defined character shall be shared among them in specified proportions.
A practice used by insurance companies to combine premiums, claims and expenses in order to spread the risk of coverage. This process ensures that small employers will not be singled out and unfairly assessed with a large rate increase due to unanticipated catastrophic medical claims of its insured employees.
A separate account which includes entries for income and expenses. It is used when a number of groups are put together for the purposes of combining their premium and paying their losses.
An organization of insurers or reinsurers through which particular types of risks are underwritten with premiums, losses, and expenses shared in agreed ratios.