Reinsurance vs. Double Insurance
In the previous article, we understood what reinsurance is. We also studied the various types of reinsurance contracts that are commonly signed by insurance companies.
The problem is that many a times people get confused between reinsurance and double insurance, since there are more than one insurance companies involved in both the cases. However, it needs to be understood that reinsurance and double insurance are both very different. In this article, we will have a closer look at the differences between the two concepts.
The bottom line is that reinsurance and double insurance are very different from each other. The only similarity they have is that more than one insurance company is involved in both the cases.
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