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COVER Magazine

Cover Magazine is a high quality, informative journal for all sectors of the financial services industry: short and long-term insurance companies, reinsurers, all intermediaries including health care and employee benefit consultants, loss adjusters, risk managers, tax advisers and financial planners, ...
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From The Glossary »

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Funds Withheld:

The situation in which a ceding company retains a deposit of the premium due to reinsurer’s. It withholds a portion of the premiums due as a guarantee that a reinsurer will meet its loss and other obligations. Also referred to as deposits retained. Funds withheld is one way of putting the security in place for foreign reinsurance to be regarded as approved reinsurance under both of the Insurance Acts.
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