Sean Hughes

Title: Sean Hughes - Innovator in Reinsurance Participation Plans

Introduction

Sean Hughes is a notable inventor based in Belmont, California. He has made significant contributions to the field of insurance through his innovative patent related to reinsurance participation plans. His work has the potential to reshape how insurance carriers manage risk and offer participation plans to their clients.

Latest Patents

Sean Hughes holds a patent for a reinsurance participation plan. This plan allows an insurance carrier to provide novel loss participation options to insureds. The insurance carrier cedes a portion of the risk to a reinsurance company, such as a captive reinsurance company. The captive reinsurance carrier then enters into a contractual agreement with the insured for the participation plan, adhering to the appropriate regulations for the primary line of insurance in question. The participation plan may include non-linear options, such as a curvilinear participation plan, which enables smaller companies to qualify for plans that would typically be unavailable to them. Additionally, larger companies can benefit from more advantageous plans than they would otherwise receive. These plans can be offered on a multi-year basis, ensuring informed consent for prospective insureds.

Career Highlights

Sean Hughes is currently employed at Applied Underwriters, Inc., where he continues to develop innovative solutions in the insurance sector. His expertise in reinsurance participation plans has positioned him as a key figure in the industry.

Collaborations

Sean has collaborated with notable colleagues, including Steven M. Menzies and Jeffrey A. Silver, who contribute to the innovative environment at Applied Underwriters, Inc.

Conclusion

Sean Hughes is a pioneering inventor whose work in reinsurance participation plans is making a significant impact in the insurance industry. His innovative approach allows for more flexible and beneficial options for both small and large companies.