Reinsurance pool

{
  "id": "MLC-T-INS-002855",
  "term": "Reinsurance pool",
  "field": "Insurance and risk management",
  "definition": "A group of insurance or reinsurance companies that join together to collectively accept and share risks. Each member cedes certain risks to the pool and in return assumes a share of the pool's total risk portfolio, with premiums, losses, and expenses distributed proportionally among the members. Pools are frequently formed to provide capacity for catastrophic risks like nuclear accidents, aviation, or terrorism, where the potential loss exceeds the capacity of any single insurer.",
  "url": "https://mlchart.com/terminology/insurance/reinsurance-pool/"
}