do private Insurance firms have Bankruptcy Insurance ?

June 8, 2009

EDIT: Yes, there is something called Reinsurance.

Reinsurance is a means by which an insurance company can protect itself with other insurance companies against the risk of losses.

What about them going down. there’s something for that too.

Reinsurance companies themselves also purchase reinsurance and this is known as a Retrocession. LOL 😀

so then, there is a way they can all go down at once? Nah.. they are covered. They usually have a clause in the agreements to limit there risk of catastrophically large losses.

Typically, insurers prefer to limit their exposure to a loss from a single event to some small portion of their capital base, on the order of 5 percent.

And since I am not writing an assignment, I can officially quote from Wikipedia 😛 Insurance and Reinsurance

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do private Insurance firms have Bankruptcy Insurance ?

Isn’t it very important?

guarantee from the Govt. is one thing I can imagine. public companies have it easy. what about private companies?

do they pay a premium too, then, to the Govt. for bankruptcy insurance?

and is there a cap on the insurance to the sum insured ? [like I think ther’s a Rs 1 lac cap on insurance of SB accounts for centralized banks?]

(Cheers to KP, for initiating the discussion)

on a different note, can the govt arbitrarily move funds (derived from taxes) wherever they care to? hmm…


GATI service gets multiple bad reviews

April 20, 2009

Looking for a service to ship your luggage home ? 

Many ppl have had bad experiences using GATI, one breaking his motherboard and  another bearing extensive scratches on the side od their computers.

Needless to say, both are unhappy and I’d like to see another player grab the year-end hostellers-go-home shipment market at NITK.   

 

more on the subject, later.


world’s longest comment

July 8, 2008

today, after readding a very interesting blog post here, i started writing in the comments. it carried on and on and on, like had never happened before! after a full blog posts’ worth of material, finally i stopped. read it here. of course if its not removed by the author for having exceeded the readers patience.

it was through my RSS reader google reader, but now you can even insert ads in feeds – check out feedburner.com [and google bought it recently].

and wordpress.com had gone https – to add new post, to change settings, everything. and 256 bits! hmm. wonder if it’ll hurt mobile bloggers. [what Sid ?]

and tag suggest! at least the first time i’m seeing it!