Patent ID: 7249038

Claim:
A process for a reinsurer to facilitate administration of a facultative automatic reinsurance agreement between a cedant and a reinsurer using a computer system, said process comprising the steps of: providing an automatic reinsurance agreement entered into between said cedant and said reinsurer wherein the reinsurer agrees to automatically reinsure insurance policies associated with the cedant that satisfy a reinsurance criteria, said automatic reinsurance agreement including said reinsurance criteria, said reinsurance criteria describing at least one of types of risks and classes of business to be automatically reinsured under said reinsurance agreement without further underwriting by said reinsurer; entering said reinsurance criteria into a database using said computer system; providing said cedant access to said database; instructing said cedant to enter into said database, terms for each insurance policy said cedant intends to submit for coverage under said automatic reinsurance agreement, wherein said cedant submits an initial report using said computer system including each policy submitted for coverage under said automatic reinsurance agreement; comparing said terms entered by said cedant for each insurance policy included on the initial report to said reinsurance criteria; and preventing any of said policies, for which said terms do not comply with said reinsurance criteria from being included on a final report to be submitted to said reinsurer for coverage under said automatic reinsurance agreement.