Inward Agreement Meaning
Most of the above examples relate to reinsurance contracts covering more than one policy (contract). Reinsurance can also be acquired by policy, in which case it is called optional reinsurance. Optional reinsurance can be established either on a co-payment or on the basis of a surplus of losses. Optional reinsurance contracts are often recalled in relatively short contracts, called discretionary quotas, and are often used for significant or unusual risks that, because of their exclusions, are not part of standard reinsurance contracts. The duration of an optional agreement coincides with the duration of the policy. Optional reinsurance is generally acquired by the insurer that took out the original insurance policy, while contractual reinsurance is generally acquired by an insurance company executive. This external view (outwards towards the interior) is “demand-oriented” that supports “management and control” from bottom to top. Contract reinsurance is a comprehensive agreement covering a portion of a specific class (or class of business) as a whole. B of the labour allowance or the real estate activity of an insurer. Reinsurance contracts automatically cover all risks written by policyholders that are covered by contractual terms, unless they explicitly exclude certain exposures. So before even agreeing to cancel the policy, the insurer must look for an optional reinsurance and try the market until it gets the remaining $10 million. The insurer could receive $10 million from 10 different reinsurers.
But without it, it cannot agree to adopt this policy. Once he has the agreement of the companies to cover the $10 million and is confident that he can possibly cover the total amount, if there is a claim, he can enact the policy. Suppose a standard insurer issues a policy for large commercial buildings, for example. B a large office building. The policy is written for $35 million, which means that the original insurer faces a potential liability of $35 million if the building is severely damaged. But the insurer believes it can`t afford to pay more than $25 million. The exterior view is strategic because it focuses several sets of competency requirements on a set of capacity requirements. In this case, each point of view has a ability view that is both reflexive and refractive of the corresponding capacity. In other words, different capabilities “see” common capacity differently.
On the other hand, the optional risk allows the reinsurer to accept or refuse certain risks. In addition, it is a kind of reinsurance for one or one set of risks. This means that the reinsurer and the cedator agree on the risks covered by the agreement. These agreements are usually negotiated separately for each policy. This external view from the inside is also used in the practice of the entire enterprise architecture to complement the “thinking” of support from top to bottom, as this view is used to attract, display and govern the dynamics of change, and manage and manage the dynamics of change. The external view is needs-oriented and is used to analyze, plan, design and provide a capability (common point of interest) to meet several competency requirements (different points of view).