Quote Originally Posted by kiora View Post
It generally avoids exposure to natural perils or disaster risk
Many of its products CBL has the ability to recover claims from insured counter parties.Whatever that means
CBL provide Surety Bonds to construction risks (I think). So if there was an event that caused the bond to trigger, CBL may be able to subrogate against the counter party that caused the event, presumably through their professional indemnity insurer.

CBL operate predominantly as an insurer, with some MGA (Managing General Agent i.e Broker with underwriting authority) activities. MGAs bear no risk, but Insurers do.