What is Bordereau reporting?

Key Takeaways. A bordereau is a report from an insurance company to its reinsurer listing either the assets covered or the actual claims paid. The report is compiled and sent periodically to keep the reinsurer informed about its potential liabilities or its expected premiums.

What is a risk Bordereau?

Bordereau — a report providing premium or loss data with respect to identified specific risks. This report is periodically furnished to a reinsurer by the ceding insurers or reinsurers.

What is a Bordereau invoice?

A bordereau is a memorandum or invoice prepared for a company by an underwriter, containing a list of reinsured risks. Originally a French term. Details of every risk ceded to the reinsurer are forwarded in the form of a bordereau.

What is a reinsurance report?

Reports Covering Premium and Losses by Reinsurance Fund by State. Aggregate reinsurance totals by state and fund or national fund.

What is a Bordero?

Bordero is a method of payment that is used to generate a batch of vendor payments and print them on the Bordero report. The Bordero report is sent to the bank that is responsible for paying the bills that are listed on the Bordero report.

What is an insurance MGA?

Managing General Agent (MGA) — a specialized type of insurance agent/broker that, unlike traditional agents/brokers, is vested with underwriting authority from an insurer.

What is the plural of Bordereau?

noun. bor·​de·​reau | \ ˌbȯr-də-ˈrō \ plural bordereaux\ ˌbȯr-​də-​ˈrō(z) \

What is the plural form of Bordereau?

What are two types of reinsurance?

Types of Reinsurance: Reinsurance can be divided into two basic categories: treaty and facultative. Treaties are agreements that cover broad groups of policies such as all of a primary insurer’s auto business.

What are types of reinsurance?

Below are some of the major types of reinsurance policies.

• Facultative Coverage.
• Reinsurance Treaty.
• Proportional Reinsurance.
• Non-proportional Reinsurance.
• Excess-of-Loss Reinsurance.
• Risk-Attaching Reinsurance.
• Loss-occurring Coverage.

How do you say Bordereau?

noun, plural bor·de·reaux [bawr-duh-rohz; French bawr-duh-roh].

What is the difference between an MGA and a Coverholder?

The term ‘managing general agent’ (MGA) is an Americanism adopted by the UK market to refer to what used to be known as a ‘coverholder’. For sure, the ties between MGAs on both sides of the Atlantic are deepening. “We get three or four e-mails a week minimum inviting us to use another MGA for some reason or other.”

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