Bordereau
A bordereau is a detailed report that an MGA, coverholder, or ceding insurer sends to the risk-bearer on a set schedule, listing either the policies and premiums written (a premium bordereau) or the claims and losses (a loss bordereau) for the period.
In delegated-authority and reinsurance arrangements, the party that writes or administers the business is not the party that ultimately carries the risk. The bordereau is how information flows between them: a periodic schedule, often monthly, that itemizes what was written or what was paid so the risk-bearer can see a book of business it did not directly handle.
A premium bordereau lists the policies bound and the premiums collected in the period, while a loss bordereau lists the claims and the amounts paid or reserved. Together they let a carrier or reinsurer reconcile the money owed, monitor performance, and feed pricing and reserving.
Bordereaux are central to program business, MGA relationships, and proportional reinsurance treaties such as quota share, where accurate and timely reporting is essential. Incomplete or late bordereau data is a common source of disputes and pricing error.
For an AI-native reinsurer such as RiskCube Re, structured bordereau data is exactly the kind of signal that supports faster, more disciplined underwriting of delegated and program business.
Definitions are educational and general, and specific contracts, endorsements, and state rules may modify them. For regulatory guidance, refer to the NAIC or the Insurance Information Institute.