Catex Holds Place Among Forbes.com's Top Sites.For the second year in a row, Forbes.com named Catex, an Internet-based reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and commercial insurance market, as one of the year's top 200 business-to-business Web sites in its annual "Best of the Web" list. Forbes.com selected Catex and a handful of companies in the financial-services category based on strategy, execution, financial staying power and Web site design. Other companies in the category include Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. .com, Creditex and ECredit.com. "Being selected as the only reinsurance site signals an understanding of our business model of maintaining a neutral-risk trading platform, while affording flexibility to each of our users to use Catex as its own in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. distribution system," Frank Fortunato, chief executive officer of Catex, said in a statement. The company currently is testing a premium and claims-clearing service for transactions concluded on its Web-enabled trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. . "We are using our technology to build a Web-based back office that can be used in conjunction with Catex or licensed independently by any company," Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Frank Sweeney said in a statement. With 240 subscribers worldwide, Princeton, N.J.-based Catex also has offices in London and Bermuda. |
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