Name: Barger & Wolen LLP
Diversity Profile
Practice Areas: General Civil Trial and Appellate Practice, Corporate Law, Reinsurance, Securities and Insurance Coverage Litigation.
Location: New York (New York Co.)
Reinsurance: Reinsurance is insurance that is purchased by an insurance company (the “ceding company” or “cedant” or “cedent” under the arrangement) from one or more other insurance companies (the “reinsurer”) as a means of risk management, sometimes in practice including tax mitigation and other reasons described below. The ceding company and the reinsurer enter into a reinsurance agreement which details the conditions upon which the reinsurer would pay a share of the claims incurred by the ceding company. The reinsurer is paid a “reinsurance premium” by the ceding company, which issues insurance policies to its own policyholders.