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Economy terms
Economy in Homeowners Insurance: the news, the names and what changed.
Catastrophe bondA security sold to investors that pays interest, but whose principal goes to the insurer that sponsored it if a defined disaster occurs, serving as reinsurance.ReinsuranceInsurance that an insurance company buys from other companies, which reimburse part of its claim payments, especially after a large disaster.Reinsurance towerThe stack of reinsurance layers an insurer buys one above another, each starting where the layer below ends, to cover progressively larger catastrophe losses.