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English to Polish translations [PRO] Bus/Financial - Insurance / reasekuracja
English term or phrase:Commutation
Commutation of outwards reinsurances will normally only be undertaken in circumstances in which:
• The Reinsurer is regarded as financially impaired
• The reinsurance is too costly to administer, having limited residual reserve and minimal risk of material adverse development
• Overall Group interest supports a commutation
g) Wherever possible, Group Reinsurance will identify potentially impaired Reinsurers with whom commutation of liabilities should be pursued. No commutation may be agreed with a "Watch List" Reinsurer without the agreement of Group Reinsurance.
h) Regions / Countries will negotiate the commutation for their own benefit. Where more than one Region / Country is involved, Regions / Countries will agree with Group Reinsurance who will
undertake negotiations on behalf of the Group.
Wiem, że coś podobnego już było (przeliczenia), ale chcę się upewnić w tym kontekście.