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Encyclopedia of Nanoscience and Society
Reinsurance
Reinsurance Insurances and reinsurances constitute the commercial insurance sector. While insurers underwrite risks directly with the insured, reinsurers insure the insurers. Thus, in combination they manage not only the risks originating directly in society and economy, but also the ones that they have as insurers. The existence of reinsurance practices shapes the economies of nanotechnology: through their existence risks can be underwritten that otherwise could not be insured economically. Hence, reinsurances are important enablers of nanotechnology development. Asbestos serves as a case to illustrate the sensitivity of insurers to risks caused by nanotechnology. After summarizing approaches of reinsurers to nanotechnology this entry concludes with a view at the social and political implications of reinsurance. Limited by their amount of assets, insurers needs to transfer risks to others if they want to underwrite risks beyond their own capacities. When reinsurers offer insurance, they normally try to share the risk ...
Ingmar Lippert

