Important Points for IC 27 - Health Insurance Exam
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Surplus share reinsurance contract is proportional to the original insurance contract, it is called quota share reinsurance.
Utility of reinsurance structures: Typically claims which are low severty and low frequency are not reinsured, Claims which are medium to high severity and low frequency may be reinsured, Claims which are high frequency and high severity would usually be reinsured, Claims which are high frequency but low severity-typically such business is reinsured only at a portfolio level.
Product lines of health insurance: Indemnity health insurance, Critical illness insurance, Fixed benefit covers.
In Indian market, health insurance products are sold by non-life companies, life companies as well as Stand Alone Health Insurance (ASHI) companies. The Central government has also implemented the Rashtriya Swasthiya Bima Yojana (RSBY) which is a social insurance scheme, which covers the population Below Poverty Line of a given district for a basic level of health insurance cover.
Some of the niche products supported by reinsurers: Employers top loss, White labelling and Social reinsurance.
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