The Importance of Reinsurance in Insurance

Dan Loeb: Hightrow managers setting up their own reinsurance business and it doesn't seem like it's been too successful. Reinsurance is just taking risk without all the administrative stuff or any of the Cost of acquiring the policy. For a lot of these things it's getting your name out there in the public and then also Except for companies like usa and geico It's not just that the other ones had agents They also didn't know how to process things for claims instead of having it go through agents.