Reinsurers face Access fallout

Reinsurers of Access Insurance Company (AIC) renewed its giant
quota share last November just weeks before the non-standard auto
insurer's policyholders' surplus collapsed at the end of
2017, The Insurance Insider can
reveal.
The JLT Re-placed cover incepted on 1 November and was offered
as a one-year or two-year term with a provisional cede commission
of 25 percent in the firm order terms (FOTs), according to market
sources.
At the time, the carrier's surplus was a relatively healthy
$29.9mn. H