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Nearly every large company has contracts with one or more reinsurance companies, usually foreign, and whenever an agent writes a policy for a greater amount than his company thinks it prudent to hazard on the risk in question, it cedes to one or more of these reinsurers such a proportion of the risk as it feels disinclined to retain, paying to the reinsurers an equal proportion of the original premium.
Thirteen thousand dollars of the risk in question was ceded to other companies and we naturally filed claims with the reinsurers for their proportion. The following day a friend who was acting as chief adjuster for another office which was one of the re-insurers on this risk, called upon me regarding this particular claim.
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