Action Steps
The best contacts and resources to help you get it done

Educate yourself--and your employees--with the latest reinsurance information

If you're new to the insurance industry, or dealing with employees who are, you should get you or them up to speed as quickly as possible. Reinsurance is a crucial element of distributing risk. Professional associations are your best bet for getting business leads, contacts and a quick education all at the same time.

I recommend: The Reinsurance Association of America educates and lobbies within the government and other professional organizations; it's rich in resources for educating employees about reinsurance companies and services. Libraries and Directories also offers a number of resources for self-education, leads for other educational opportunities and key elements for evaluating your company's risk profile.

Find reinsurance providers near you

You may find a number of statewide reinsurance organizations organized as a result of the FAIR (Fair Access to Insurance Requirements) Plans, enacted to provide insurance where it might otherwise be too costly or impractical to implement. However, reinsurance organizations also form around particular industry sectors (such as Health or Workers' Compensation). These groups help enormously in narrowing down the search for useful providers.

I recommend: If you own a home or commercial property in Rhode Island, you probably deal with the Rhode Island Joint Reinsurance Association. The Workers' Compensation Reinsurance Association works with reinsurance workers' compensation insurers and self-insured employers within the state of Minnesota.

Consult with insurance risk management professionals

With volatile, complex market mechanisms in place, sometimes it's best to let the experts handle it. If your insurance/reinsurance division needs a little boost, or if you find yourself in need of third-party advice, reinsurance brokers offer easy access to reinsurance options while reinsurance consultants give you objective business advice.

I recommend: The U.S. RE Corporation is a reinsurance broker with a global client list. Their areas of expertise include aviation, commercial auto and business insurance. Aon Benfield is a reinsurance consultant that can help with contract working, claims, market security and technical accounting.

Helpful advice for making the most of this Guide

• •  If you're having trouble choosing between reinsurance providers, consider asking for a list of past clients or client testimonials as evidence of successful service provided.