Houston Texas Reinsurance Agreement between Blue Cross Blue Shield of Missouri and Healthy Alliance Life Insurance Co.

• Category: Corporations - Public - Assumption
• State: Multi-State
• City: Houston
• Control #: US-EG-9381
• Format: Word; Rich Text

Description

Assumption Reinsurance Agreement between Blue Cross and Blue Shield of Missouri and Healthy Alliance Life Insurance Company regarding the discharge of Blue Cross and Blue Shield of Missouri on an assumption insurance and novation basis under Section Houston Texas Reinsurance Agreement is a legal contract between Blue Cross Blue Shield of Missouri (BCBS) and Healthy Alliance Life Insurance Co., which outlines the terms and conditions governing the reinsurance coverage provided by Blue Cross Blue Shield of Missouri to Healthy Alliance Life Insurance Co. This agreement is designed to protect Healthy Alliance against excessive financial losses arising from insurance claims. The primary purpose of the Houston Texas Reinsurance Agreement between BCBS and Healthy Alliance Life Insurance Co. is to transfer a portion of the insurance risk from Healthy Alliance to BCBS. Under this agreement, BCBS agrees to provide financial compensation to Healthy Alliance for a specified percentage of eligible claims paid by Healthy Alliance up to a predetermined threshold. In return, Healthy Alliance pays BCBS a premium or fee for assuming this risk. There are different types of Houston Texas Reinsurance Agreement between Blue Cross Blue Shield of Missouri and Healthy Alliance Life Insurance Co. Some common variations include: 1. Excess of Loss Reinsurance: In this type of agreement, BCBS agrees to reimburse Healthy Alliance for claims that exceed a specific threshold, usually referred to as the retention level or attachment point. BCBS covers a predetermined percentage of eligible claims beyond this threshold, providing financial protection to Healthy Alliance. 2. Aggregate Excess Reinsurance: This type of agreement works on a cumulative basis. BCBS agrees to reimburse Healthy Alliance for the total of all claims paid by Healthy Alliance within a specified period, once they exceed a certain predetermined level called the aggregate attachment point. This type of agreement offers protection against an accumulation of smaller claims that together can exceed the retention limit. 3. Stop-Loss Reinsurance: This arrangement provides protection to Healthy Alliance against catastrophic claims. BCBS agrees to reimburse Healthy Alliance for any claim that exceeds a predefined stop-loss level. This type of agreement helps protect Healthy Alliance from sudden large financial losses. The Houston Texas Reinsurance Agreement between Blue Cross Blue Shield of Missouri and Healthy Alliance Life Insurance Co. aims to mitigate financial risks for Healthy Alliance, allowing them to provide insurance coverage with greater confidence and security. By transferring a portion of the risk, the agreement ensures that both parties can effectively manage their financial liabilities while enhancing the overall stability of the insurance market.

Houston Texas Reinsurance Agreement is a legal contract between Blue Cross Blue Shield of Missouri (BCBS) and Healthy Alliance Life Insurance Co., which outlines the terms and conditions governing the reinsurance coverage provided by Blue Cross Blue Shield of Missouri to Healthy Alliance Life Insurance Co. This agreement is designed to protect Healthy Alliance against excessive financial losses arising from insurance claims. The primary purpose of the Houston Texas Reinsurance Agreement between BCBS and Healthy Alliance Life Insurance Co. is to transfer a portion of the insurance risk from Healthy Alliance to BCBS. Under this agreement, BCBS agrees to provide financial compensation to Healthy Alliance for a specified percentage of eligible claims paid by Healthy Alliance up to a predetermined threshold. In return, Healthy Alliance pays BCBS a premium or fee for assuming this risk. There are different types of Houston Texas Reinsurance Agreement between Blue Cross Blue Shield of Missouri and Healthy Alliance Life Insurance Co. Some common variations include: 1. Excess of Loss Reinsurance: In this type of agreement, BCBS agrees to reimburse Healthy Alliance for claims that exceed a specific threshold, usually referred to as the retention level or attachment point. BCBS covers a predetermined percentage of eligible claims beyond this threshold, providing financial protection to Healthy Alliance. 2. Aggregate Excess Reinsurance: This type of agreement works on a cumulative basis. BCBS agrees to reimburse Healthy Alliance for the total of all claims paid by Healthy Alliance within a specified period, once they exceed a certain predetermined level called the aggregate attachment point. This type of agreement offers protection against an accumulation of smaller claims that together can exceed the retention limit. 3. Stop-Loss Reinsurance: This arrangement provides protection to Healthy Alliance against catastrophic claims. BCBS agrees to reimburse Healthy Alliance for any claim that exceeds a predefined stop-loss level. This type of agreement helps protect Healthy Alliance from sudden large financial losses. The Houston Texas Reinsurance Agreement between Blue Cross Blue Shield of Missouri and Healthy Alliance Life Insurance Co. aims to mitigate financial risks for Healthy Alliance, allowing them to provide insurance coverage with greater confidence and security. By transferring a portion of the risk, the agreement ensures that both parties can effectively manage their financial liabilities while enhancing the overall stability of the insurance market.