Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
Pearl River New York, March 17,2014 - Marc Piccione, Sr. Vice President, U.S. RE Companies, presents insights into the workings of the Turkish Catastrophe Insurance Pool( TCIP) in the Companies’ latest edition of U.S. Re Views magazine. In an interview with Mr. Piccione and Mr. Fedor of U.S. RE Companies and its strategic partner, Mr. Turker of Turker Insurance and Reinsurance Brokers, that appeared originally in Insurance Insider (http://www.insuranceinsider.com/-1247469/8 ), the collaborators in the architecture of the TCIP reinsurance program structure, revealed some of the key characteristics of the programme.
“The spread loss solution was implemented as an attractive feature to the CAT pool because of its focus on balance sheet effect rather than income statement effect, “ Mr. Piccione stated, adding, “If it's a no loss scenario TCIP realises significant savings, since the traditional market would normally require a higher rate for covering the same level of exposure. At the same time, in a full loss scenario, reinsurers would expect to negotiate higher renewal rates allowing them to recoup the loss over their preferred time period," he noted.
For the full story see: U.S. ReViews 1st Qtr 2014