Reinsurance payable vs. reinsurance recoverable
For Fall 2019 #15c, an asset is "reinsurance recoverable on paid loss & LAE" and a liability is "reinsurance payable on paid loss & LAE" is the recoverable on paid loss the insurer has paid but is still owed from the reinsurer? Is payable the amounts that someone they have reinsured has paid and they still owe to them?
Just trying to get a better understanding of how these all flush out.
Comments
Yes, correct.