Definition - What does Reinsurance Broker mean?
A reinsurance broker is a person who acts as an intermediary between an insurance company and a reinsurance company. Reinsurance brokers work for the insurance company and their job is to acquire reinsurance for it. This can involve negotiating rates and finding the best policies.
Insuranceopedia explains Reinsurance Broker
Many insurance companies use reinsurance brokers because the process of purchasing reinsurance can be complicated. They rely on reinsurance brokers' specialized skills to help them get the best deals possible. After all, reinsurance policies will only really help insurance companies if they provide adequate coverage at reasonable rates. Otherwise, the companies could be paying too much for too little protection.
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