Patent ID: 7333940

Claim:
A method implemented by a host system that exists within a network that includes a host system interposed between a cedent and a plurality of assumers, wherein a negotiation for reinsurance of a risk is conducted through various stages of negotiation between the cedent and the plurality of assumers, a method for the host system facilitating the negotiation for reinsurance of a risk, comprising: the host system receiving a submission of a risk for reinsurance from a cedent, the submission including a risk record describing the origin of the risk for which reinsurance is being sought, the risk record constructed from cedent collected information entered by the cedent into the system based on the cedent's association with the risk; the host system conveying the submission to a plurality of assumers of reinsurance risks; the host system receiving one or more responses to the submission from one or more of the plurality of assumers to whom the submission was conveyed, the received responses indicative of one or more assumers that are interested in negotiating for reinsurance of the risk; the host system conveying the received responses to the cedent; the host system receiving at least one negotiation reply from the cedent in response to the conveyed responses from one or more of the plurality of assumers; the host system storing the submission, the one or more responses and the at least one additional negotiation at the host system; the host system providing an interface for viewing a negotiation history that includes the stored submission, the one or more responses and the at least one additional negotiation that are exchanged during the various stages of the negotiation and that are stored at the host system, wherein the interface further includes selectable options for enabling the cedent to accept, counter offer, or refuse the one or more responses from the plurality of assumers; and the host system concluding the negotiation such that the risk is either bound or the negotiation is terminated without binding the risk.