Bordero in insurance is a documented list of contracts with the main conditions provided to the reinsurer. Usually the insured, the object of insurance and its location, the term of the transaction, amount and premium are indicated.
Definition
As mentioned above, Bordero in insurance is a documented list of insurance contracts. They are inherently subdivided into preliminary and final. The first type is sent according to the concluded contract, and the second - regarding the insurance contract, according to which negotiations are completed and the policy is drawn up.
Bordero is sent in the time specified by the document (for example, once a week). In addition, reinsurers at a certain time send reinsurers a loss agreement in which they provide information about insurance cases and expenses from them.
The list of risks in insurance
The list of risks is the amount of liability under the insurance contract, which is expressed using the sum insured. All this is written in Bordero. In insurance, this is important, as the parties begin to understand the level of their responsibility and do everything necessary to protect their interests.
There are various classifications of risks that are based on their characteristics. By hazard: man-made, natural; by the nature of activity: financial, political, professional, transport, environmental. For the objects to which the risks are directed: causing damage to human life, property damage, civil liability.
So, Bordero in insurance is a documented list of insurance contracts that are subject to reinsurance, with the definition of the main conditions, sent to the reinsurer. And the list of risks included in it depends on the characteristics of their occurrence.