Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Insurance
Patent
1997-07-01
2000-09-12
Tkacs, Stephen R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Insurance
705 35, 705 37, G06F 1760
Patent
active
061190934
ABSTRACT:
A system is described for facilitating a syndicated sale of an insurance policy. The system employs a processor and a storage device connected to the processor, and a data receiving device and data output device connected to the processor. The processor executes a program to receive information relating to the insurance policy, and to transmit for electronic viewing by a potential buyer an invitation to offer to buy a share in the underwriting of the insurance policy. The share has associated therewith a risk cost assessable to the buyer if payment is made on a claim under the insurance policy. The processor receives offers to underwrite the share of the insurance policy; each offer includes information identifying collateral against which the risk cost may be charged in the event of payment on a claim. The transmission of the invitation and the offer to buy a share may advantageously be made on the Internet.
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Sparico Thomas M.
Walker Jay S.
Alderucci Dean
Santisi Steven M.
Tkacs Stephen R.
Walker Asset Management Limited Partnership
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