Why Nationale Borg re
a specialist who understands this niche business
NB Re has been active in surety, trade credit and PRI reinsurance for over 70 years. We serve 115 cedants and numerous brokers worldwide.
NB Re is recognized within the industry as a trustworthy partner with a long-term commitment to its niche, both on treaty and facultative reinsurance.
NB Re provides professional reinsurance solutions as a specialist who understands what this niche business is all about.
We offer our clients solid capitalisation and strong capital adequacy.
We focus on maintaining our existing relationships and further broadening our client base.
BASIC INFORMATION REQUIRED FOR FACULTATIVE REINSURANCE
INFORMATION ABOUT THE INSURED AND THE RISK:
Full name(s) and address(es) of risk(s).
Full name and address of parent company (if any).
Principal operations of risk.
Annual reports and accounts of at least the last two years, if possible with other published reports.
Period during which ceding company has been in relation with risk(s) and a description of the experience during that period.
Reason for additional capacity.
The share that is covered by the ceding company’s treaty facilities (automatic & special limit) and the share which is offered facultatively.
Ceding company’s gross & net retention (both for treaty facility and facultative facility).
Expected Premium Income.
The original rate per annum/month.
The total costs to Nationale Borg Re (taxes, brokerage, reinsurer’s commission, etc.).
Names of co-insurers and/or co-reinsurers and the amount accepted by them.
The wording of the counter-indemnity of the Parent Company and its present value (if applicable).
ADDITIONAL INFORMATION APPLYING TO CONTRACT BONDS
Kind of bond (Bid bond/ Performance bond/ Payment bond/ Advance Payment bond/ Maintenance bond/ Retention Money bond).
The amount of the particular bond(s).
If the contract is to be performed by a consortium of contractors, is then a counter-indemnity for 100% of the bond amount obtained from each contractor so that all members of the consortium are jointly liable to the Surety company, or not?
Draft contract or tender details, or at least copies of force-majeur clause, price-variation clause, penalty clause, financing scheme.
The commencing- and end date and period of possible maintenance.
Name and full address of the authority to which the bond is given.
Contract price offered by contractor (and if possible a list of bid-prices of other tenders).
Is part of the contract to be subcontracted and if so, which part and to whom?
Will the main contractor require bonds from sub-contractors?
List of principal works (with contract prices) executed previously by the contractor and a list of works on hand (if possible with an indication of the percentage of each contract already performed).
Possible collateral requested.
If a contract is to be performed by a consortium of contractors, the above particulars about each contractor is to be given separately.
ADDITIONAL INFORMATION APPLYING TO CUSTOMS & EU BONDS
Kind of bond (Customs bond, VAT bond, etc.).
Commencing date, expected maximum duration of the bond and possible annulation clause.
Amount of the facility/percentage of the value of the goods covered.
Copy of the bond wording (if one or two large bonds give raise to needed Facultative Capacity).
Possible collateral requested.
ADDITIONAL INFORMATION APPLYING TO CREDIT INSURANCE
Total credit limit.
Own retention insured.
Period of cover.
Protracted default included.
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