As a business owner you've probably encountered workers compensation reinsurance before. This is when an insurance company has to insure itself with another insurance company to share out the loss with other insurance companies. Every insurance company will need reinsurance now and again, especially when there is a large amount of claims going through at one time to avoid going bankrupt.
With workers compensation you could see reinsurance done when a claim is too large for one insurance company to take on. This means you could see your claim going through not only one insurance company, but multiple companies.
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