At ABK Credit we design the captive reinsurance program and coordinate and manage our own reinsurers for credit risk. In certain situations, we resort to the ART (Alternative Risk Transfer) program, combining our own retention with an excess assignment. We are undisputed leaders in credit risk captive reinsurance at a European level, and we firmly believe that this is the best way to insure it.
We call reinsurance the method through which an insurer transfers part of the risks it assumes in order to reduce the amount of its possible loss. Thus, reinsurance is the contract between two insurers, the reinsurer and the reinsured or direct insurer. In this sense, the insured object will be all or part of the contractual responsibilities that the insured has accepted according to the subscribed insurance policy.
Thus, a reinsurance contract is an independent insurance contract where the reinsurer undertakes to indemnify the reinsured, totally or partially, for the losses for which the latter is responsible to the insured under the primary policy contract. It is subject to the general principles and rules applicable to liability insurance, such as the principles of maximum good faith, subrogation, and the rules related to the existence of risk.
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