System and method of risk transfer and risk diversification including means to assure with assurance of timely payment and segregation of the interests of capital
First Claim
1. A method employing operatively interconnected, input, output and data processing means for facilitating through an entity, the transfer and acceptance of specifically defined risks through the entity from risk transferors to capital providers accepting the risk transferred, the method comprising:
- creating an entity for facilitating the transfer of risk from one or more risk transferors through the entity to capital providers accepting the risk through the entity;
creating and maintaining a communications system for communications between risk transferors and capital providers through the entity;
creating within the entity a capital reserve system;
exchanging information between and among one or more risk transferors, one or more capital providers and the entity relating to the nature and character of the risk for the purpose of one or more willing risk transferors entering into a policy/contract with one or more willing capital providers having defined obligations including the maximum monetary exposure on the risk and the duration thereof; and
causing the capital provider(s) to transfer sufficient capital to the capital reserve system prior to the effective date of such contract which capital when combined with risk compensation and other income is sufficient to meet any and all such defined obligations during such contract period.
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Accused Products
Abstract
A system and method of accepting risk through contractual obligations transfers a portion of the risk to investors and includes means for absolute assurance of timely payment to contract holders, and segregation, of the interests of particular investors to specifically identified risks in a risk to capital matching system. The system creates separate ledgers and segregated reserves to tailor particular products for specific needs including transferring difficult to place risks. The system creates agreements which promise payments, based on loss from risks including investment risks. Data processing provides legally segregated relationship management links, supervising and balancing the interests of professionals in a risk transfer and diversification system.
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Citations
74 Claims
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1. A method employing operatively interconnected, input, output and data processing means for facilitating through an entity, the transfer and acceptance of specifically defined risks through the entity from risk transferors to capital providers accepting the risk transferred, the method comprising:
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creating an entity for facilitating the transfer of risk from one or more risk transferors through the entity to capital providers accepting the risk through the entity; creating and maintaining a communications system for communications between risk transferors and capital providers through the entity; creating within the entity a capital reserve system; exchanging information between and among one or more risk transferors, one or more capital providers and the entity relating to the nature and character of the risk for the purpose of one or more willing risk transferors entering into a policy/contract with one or more willing capital providers having defined obligations including the maximum monetary exposure on the risk and the duration thereof; and causing the capital provider(s) to transfer sufficient capital to the capital reserve system prior to the effective date of such contract which capital when combined with risk compensation and other income is sufficient to meet any and all such defined obligations during such contract period. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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24. A system employing operatively interconnected, input, output and data processing means for facilitating through an entity the transfer and acceptance of specifically defined risks through the entity from risk transferors to capital providers for acceptance of the risk transferred, the system comprising:
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multiple interactive computer terminal input and output means at diverse locations for use by one or more of the entity, risk transferors transferring risk through the entity, capital providers accepting risk through the entity, their respective intermediaries, underwriters and other assistive, analytical and advisory resources defining a risk acceptance subsystem, a risk diversification subsystem and a reserve management subsystem; the risk acceptance subsystem including one or more of information input, output and retrieval means operatively connected to the system for information exchange between potential risk transferors and the entity'"'"'s underwriting database for analysis, generation and output of suggested programs to underwriters to whom the information may be transmitted or accessed for a quotation; input means to the system for one or more underwriters receiving computer analyzed risk information respecting a potential risk transfer to advise the system as to whether or not any specific underwriter is prepared to recommend the acceptance of the risk and the terms; output means from the system for advising the potential risk transferor as to willingness of one or more underwriters to recommend acceptance of the risk, terms including limits, premiums and other relevant information; input means for a potential risk transferor to submit an electronic application to a particular underwriter; data processing means for receipt, reevaluation and generation of a report respecting the electronic application including relevant information for submission to the entity for underwriting evaluation, acceptance or rejection; means for transmitting relevant information respecting the potential risk transfer from the systems risk acceptance subsystem to the systems risk diversification subsystem to optimize returns for various classes of investors within the system; means for electronically issuing a binding commitment to the potential risk transferor upon the system'"'"'s receiving a signal indicating the entity management'"'"'s approval of acceptance of the risk; means for receiving a wire transfer of premium funds from the risk transferor to a custodian and allocation specifically identified reserve account; means for receiving confirmation of the receipt of premium funds from the custodian; means for entity management to enter an approval code into a system database for automatic initiation of a policy/contract issuance procedure; means for creation of one or more reserves within an accounting records database of the system; and means for allocating funds to said reserves to pay a maximum loss under the risk acceptance policy/contract on a timely basis as well as certain pre-identified administrative and professional fees over the life of the policy/contract. - View Dependent Claims (25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74)
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Specification