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Signature Group Holdings, Inc. Message Board

  • get_lucky_now get_lucky_now Aug 31, 1999 9:57 PM Flag

    In 100 words or less, explain UNICOVER

    eom

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    • Unicover is a manager. They were authorized by
      certain individual reinsurers and pools of reinsurers to
      have Unicover place them on various books of
      "carve-out" Workers Comp business. Unicover bears no
      financial responsibility for the losses under those
      treaties and merely takes a percentage of the premium paid
      to reinsurers as it's fee for services rendered.
      Unicover was also authorizd by these companies to place
      retrocessional covers(reinsurance on reinsurance)for them to
      cover all or part of the risks associated with the
      original book of business. Unicover receives a fee on this
      transaction as well.

      Does this help?

 
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