THE Insurance and Pensions Commission (IPEC) has called on funeral sector industry players to enter into reinsurance arrangements and move away from retaining all risk, as this may result in financial stress in times of catastrophic events. In its report for the quarter ended March 31, 2018, the commission said the funeral assurance industry reported an average retention ratio of 99,95 percent during the period. “The funeral assurers reported a very low uptake of reinsurance as evidenced by an industry average retention ratio of 99,95 percent. The commission urges players to enter into reinsurance arrangements to protect their balance sheets in times of bad claims experience,” Ipec said. The number of registered and operating funeral assurers in the market was…