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I'm not too knowledgeable about insurance in general, but from the S1 they say "At Lemonade, excess claims are generally offloaded to reinsurers". So, I'd assum
by fuzzer37 6y ago
I'm not too knowledgeable about insurance in general, but from the S1 they say "At Lemonade, excess claims are generally offloaded to reinsurers". So, I'd assume if too many people start making claims, they themselves have insurance against that happening.
- annoyingnoob 6y agoTurtles all the way down?
- fuzzer37 6y agoPresumably reinsurance claims are less frequent, and thus have some sort of different pricing structure. The wikipedia page on the subject is pretty interesting: https://en.wikipedia.org/wiki/Reinsurance https://en.wikipedia.org/wiki/Reinsurance
- 9nGQluzmnq3M 6y agoLinks to this, which must be the coolest-sounding organization in the entire insurance industry: https://en.wikipedia.org/wiki/International_Society_of_Catastrophe_Managers https://en.wikipedia.org/wiki/International_Society_of_Catas...
- Phillipharryt 6y agoOh but you haven't heard of the 'Equitable Life Assurance Society'. Not just an organisation but a proper business until the 21st century. Originally the "Society for Equitable Assurances on Lives and Survivorships", but obviously that wasn't hip enough to survive past the 19th century. https://en.wikipedia.org/wiki/The_Equitable_Life_Assurance_Society https://en.wikipedia.org/wiki/The_Equitable_Life_Assurance_S...