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FAQs about the Property Facultative Division
FAQs about our Property Fac Division
Q1. What Property Limits can Gen Re Provide?
Our maximum capacity at a single location will vary depending on a number of factors including occupancy, perils, attachment, protection and level of risk management. To find out how much we can reinsure on your particular risk, complete and send a submission form or contact an underwriter to discuss. You can contact one of our property underwriters by clicking on the name of a specialist on one of the Property Specialist pages, or you can use the Contact Us link to send us an email. If you know the name of the underwriter you want to talk with, you can find his or her phone number by using the Global List of Risk Takers link.
Q2. How can Gen Re write my volatile property business?
Just as your portfolio is structured to accept risks that fall within your defined appetite and skill, we have structured our own appetite and skills around the parts of your portfolio that fall outside of your appetite. As a professional reinsurer, we do not compete with you for the business that you can retain within your net and treaty. Instead, we position ourselves to respond to the risks that you cannot or do not wish to write. Our financial strength, underwriting discipline, and global presence allow us to provide your with needed support while remaining strong and profitable.
Q3. How does Gen Re define Normal Loss Expectancy (NLE)?
By making an estimation of the monetary loss, which can be sustained by the insurer on a single risk as a result of a single event. Our estimate takes into consideration that existing protection and prevention measures function as expected.
Q4. How does Gen Re define Estimated Maximum Loss (EML)?
By making an estimation of the monetary loss, which can be sustained by the insurer on a single risk as a result of a single event. Our estimate takes into consideration the impairment of minor protection and prevention measures and the effective use of the protection and prevention measures.
Q5. How does Gen Re define Probable Maximum Loss (PML)?
By making an estimation of the monetary loss, which can be sustained by the insurer on a single risk as a result of a single event. Our estimate takes into consideration the impairment of the most important protection and prevention measures. We also consider the effective use of all other protection and prevention measures, which could lessen the extent of loss.
Q6. How does Gen Re define Maximum Foreseeable Loss (MFL)?
By making an estimation of the monetary loss, which can be sustained by the insurer on a single risk as a result of a single event. Our estimate takes into consideration the impairment of existing protection and prevention measures. The estimate can ignore remote, possible coincidences and catastrophes.
Q7. How does Gen Re define Amount Subject (AS)?
By making an estimation of the monetary loss, which can be sustained by the insurer on a single location as a result of a single event. Our estimate takes into consideration the worst circumstances (normally TSI Top Location).
Q8. How does Gen Re define Catastrophe Loss (CAT)?
By making an estimation of the monetary loss, which can be sustained by the insurer on a single risk as a result of a catastrophic event leading to a total loss scenario. We estimate up to the Total Sum Insured (TSI) of a policy.
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