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YM Hull Placement (terminology (Direct Placement (Assured, Insurer), R/I…
YM Hull Placement
terminology
Fronting Fee
Quota Share ( Q/S ) / Excess of Layer ( XOL ) / Primary Layer
Fronting Company / Cedant
Direct Placement
Assured
Insurer
Assured / Reassured
R/I Placement
Reassured
Reinsurer
Insurer / Reinsurer
Total Deduction
R/I Commission
Co-Insurer
內共
外共
Brokerage
Proportional / Non-Proportional
Markets
International Market
Europe
Singapore
Hong Kong
China
Sunbright
Local Market
documentation
Sunbright Direct Policy ( 100% to YM/KM )
Local Cedants - R/I cover Note
Sompo : Closing
Q/S Reinsurers :HDI/MSIG/GA : Closing
XOL Reinsurer ( III ) : Closing
CTX Cover Note for all YM/KM vessels
LOU to mortgagees
Background
Since 2008
[Traditional way - before 2008]
Premium Payment (H&M+IV)
Yang Ming
Sunbright
XOL Reinsurer ( III ) :6%
Q/S Reinsurers :HDI/MSIG/GA : 15%
Sompo : 10%
Local Insurers : FB/Cathay/SK/Newa/Taian/SC/TLG/First :69%