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Keyword: reinsurer

N. Korea: North finds reinsurance a source of hard cash(living off disaster insurance)

09/20/2006 5:49:37 AM PDT · by TigerLikesRooster · 5 replies · 293+ views
JoongAng Daily ^ | 09/20/06 | Lee Young-jong, Shin Eun-jin, Sohn Hae-yong

North finds reinsurance a source of hard cash September 20, 2006 -- North Korea has filed claims with British and Russian reinsurance companies after four disasters in the North, and seeks millions of dollars in compensation, a source in Seoul said yesterday. His comments were confirmed by government officials. The sources said the claims were filed by Minjok Insurance General Company, and asked for payments related to two rail crashes and two other incidents. Reinsurers help policy-issuing insurance companies spread the risk involved in their policies to other insurance companies around the world. Companies buy "packages" composed of parts of...

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