Producer-owned Reinsurance Company (PORC),

Producer-owned Reinsurance Company (PORC) Definition:

An owner-owned or leased unit owned or used by a broker or General Management Agency (MGA) to reinsure certain risks to maintain underwriting income. This can be done by insurance companies to circumvent state laws that allow them to pay their manufacturing agents.

Literal Meanings of Producer-owned Reinsurance Company (PORC)

Producer:

Meanings of Producer:

1. A person, company or land that sells, cultivates or supplies property or goods.

2. The person responsible for the financial and commercial aspects of making a film or program, or directing dramas, operas, etc.

3. Autotrophs are organelles that make organic compounds from simple substances such as water and carbon dioxide.

Sentences of Producer

1. Oil maker

2. A film producer

Synonyms of Producer

fabricator, promoter, manufacturer, manager, builder, impresario, administrator, regisseur, creator, maker

Owned:

Meanings of Owned:

1. Keep (something) your own.

2. Acknowledge or acknowledge that something is happening or that someone is feeling something special.

3. Total defeat (opponent or rival) is absolutely correct.

4. It is used to emphasize that someone or something belongs to the person or thing being mentioned.

Sentences of Owned

1. Her father owns a restaurant

2. He has a deep sense of jealousy

3. Can't handle your baby

Synonyms of Owned

agree, confess, possess, be the owner of, allow, recognize, count among one's possessions, maintain, hold, concede, be blessed with, have in one's possession, enjoy, retain, be the proud possessor of, acknowledge, boast, keep, be the possessor of, accede, accept, have, have to one's name, grant, admit

Reinsurance:

Meanings of Reinsurance:

1. An agreement in which an insured transfers all or part of the risk to another insurer to protect himself from the risk of the first insurance.

Sentences of Reinsurance

1. Such incidents will make it difficult for your clients to get international insurance.

Company:

Meanings of Company:

1. A trading company

2. The reality or condition of living with another person, especially in a way that brings friendship and happiness.

3. Many people gathered, mostly for one purpose.

4. Central Intelligence Agency.

5. Form a team to meet him.

Sentences of Company

1. A transport company

2. I can use in company

3. These people who have been with us at the moment

Synonyms of Company

establishment, camaraderie, set, operation, bureau, corporation, company, undertaking, party, presence, companionship, closeness, crew, firm, office, business, institution, amity, comradeship, circle, group, organization, crowd, agency, venture