Bordereau
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japjotsingh99
A bordereau is part of a reinsurance contract. It presumes that, since the ceding company knows more about the risks that it has passed on to the reinsurer, it is responsible for periodically updating the reinsurer about its financial status (losses made, premiums paid) and other pertinent information. Meanwhile, the reinsurer studies the report to inform its future decisions, such as knowing what risks should be reinsured based on profitability. This report will be submitted to the reinsures periodically.
Providing this documentation is often a requirement laid out in the reinsurance treaty. The format of the report depends on the needs of the reinsurer and of the reinsured. The report has traditionally been provided in paper format, but digitization of information has shifted the delivery of bordereaux to electronic formats.
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