The Reinsurance Association of America is a non-profit trade association of reinsurers and reinsurance brokers. Reinsurance serves to limit liability on specific risks, to increase individual insurers' capacity, to share liability when losses overwhelm the primary insurer's resources, and to help insurers stabilize their business in the face of the wide swings in profit and loss margins inherent in the insurance business. Reinsurance contracts may cover a specific risk or a broad class of business.
Reinsurance is a global business.
Its international nature reflects a further spreading of risk and access to broader capital markets to help cover losses. The primary purpose of the Reinsurance Association of America is to advance the interests of the U.S. property and casualty reinsurance industry through effective government relations with state and federal regulatory agencies, legislators and other elected or appointed officials, and representation before judicial bodies. In addition, the RAA aims to build understanding of reinsurance regulatory issues and the reinsurance business among the media and other external audiences, and to serve the needs of its members and affiliates by providing information and assistance. RAA members and affiliates are all experienced and well-established providers of reinsurance or are reinsurance intermediaries. Operate as a licensed, authorized or accredited reinsurer in at least 25 states.