The author posted a question in Business, Finance
Is there insurance for the risk of non-payment by another insurance company? and got a better answer
Response from
There is, and more than one kind. There is reinsurance, where the insurer insures itself against the inability to pay compensation for an individual policy, a certain part of the policy portfolio, or the entire portfolio as a whole. There is catastrophic loss insurance when a second insurer undertakes to cover all losses not covered by the first - in this case the insured buys two policies?
Response from 0[+++++]
There is, and more than one kind. There is reinsurance, where the insurer insures itself against the inability to pay compensation on an individual policy, a certain portion of a portfolio of policies, or the entire portfolio as a whole. There is catastrophic loss insurance when a second insurer undertakes to cover all losses not covered by the first one, in which case the insured buys two policies.
There is, and more than one kind. There is reinsurance, where the insurer insures itself against the inability to pay compensation on an individual policy, a certain portion of a portfolio of policies, or the entire portfolio as a whole. There is catastrophic loss insurance when a second insurer undertakes to cover all losses not covered by the first one, in which case the insured buys two policies.
Response from 0[+++++]
There is also such a policy.
There is also such a policy.