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.