Reinsurance Clerk Job Description:

Types reinsurance applications and contracts and calculates reinsurance liability, working for either prime insurer or reinsurer and by either of following methods: (1) Calculates reinsurance required on each risk, considering limit of liability. Selects reinsurers who may accept part of ceded liability. Types applications. Computes amount of each premium due, using calculating machine. Accepts reinsurers and their liability for cash values and dividends. Prepares abstract for typing of contracts. (2) Receives reinsurance application from prime insurer. Determines amount of insurance already held on risk from company records and calculates reinsurance that company can accept, based on limit of liability. Determines if reinsurance is automatic from treaty provisions and sends application to underwriting department when it is not automatic. Types notice of acceptance or rejection, based on limit of liability, and action of Underwriter (insurance). Operates calculator to verify computations made by prime insurer.