Reinsurance agents and brokers can help you stabilize your business profits, increase your underwriting capacity and protect your business from the risk of a catastrophic loss. A reinsurance broker is a skilled professional who can help you spread your business risk by helping you find a reinsurance agency to which you can sell a portion or all of the insurance policies your company writes.

Your reinsurance broker or agent can also give you information on reinsurance pools. A reinsurance pool is created by a group of insurers that combine financial assets and pay a joint premium to cover various high risks. Consider the following tips to help you find affordable reinsurance:

1. Consider the advantages of commercial reinsurance.

2. Discuss rate options with reinsurance agents.

3. Find an experienced reinsurance brokerage firm.

Action Steps
The best contacts and resources to help you get it done

Talk to reinsurance agents and brokers

Just as you would turn to a real estate agent for assistance with the purchase or sell of property--the same is true for when you're looking to purchase reinsurance. A reinsurance agent is knowledgeable about the nuances of reinsurance and can help you identify advantages, disadvantages and determine if reinsurance can help your company's bottom line.

I recommend: Towers Perrin has skilled reinsurance brokers and agents who help companies evaluate the benefit of reinsurance through strategy review and administration, contraction negotiation and management of catastrophe exposure. It has offices located around the world including 35 in the US alone. Gill and Roeser has brokers for reinsurance who are experienced and have extensive expertise in advising companies on risk-based reinsurance.

Compare rates with the assistance of a reinsurance broker

A reinsurance broker is a great resource to assist you with choosing policy options and reinsurance rates that fit your budget and business objectives. You may benefit from joining a reinsurance pool, which generally offers low premium rates. Reinsurance pools include companies with similar business processes functioning in the same or similar industry. Your reinsurance agent can advise you on the best option for your business.

I recommend: Reinsurance Solutions is a reinsurance agency experienced in reinsurance claims and underwriting. Bridgebay Financial offers the High Tech Reinsurance Pool, which provides competitive rates, unique policy structures and financial incentives to assist with the high costs of health insurance.

Stabilize your business risk with a reinsurance brokerage

Premiums are important when choosing a reinsurance agent. However, you should also evaluate other factors such as consultation services, strategy management and implementation, claims services and overall customer service before finalizing your reinsurance broker decision.

I recommend: One of the country's largest reinsurance brokers, Aon is a member of a reinsurance brokers association that advises companies on reinsurance policies and strategies. The reinsurance brokers of Arch Reinsurance Company provide a range of reinsurance products such as casualty lines, and commercial auto and catastrophic loss.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Reinsurance is a popular industry with many insurance providers coming and going. Be sure to choose reinsurance agents and brokers who are well established and have been around for a while. This will allow you to build a lasting relationship with your reinsurance brokerage firm instead of having to bounce around to various brokers for reinsurance.