Question

Reinsurance is a contract between ______________and ___________________.

a.

Insurer and insured

b.

Insured and Underwriter

c.

Underwriter and reinsurer

d.

Insurer and reinsurer

Posted under IC85 Reinsurance Management

Answer: (d).Insurer and reinsurer Explanation:Reinsurance is a separate contract between the insurer and the reinsurer. Each of these contracts is independent of the other. The reinsurer agrees to indemnify the insurer for all or part of the risk underwritten by the latter.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Reinsurance is a contract between ______________and ___________________.
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. Which of the following is true about GIC's handling of non-reciprocal inwards into India?

View solution

Q. Which of the following statements about the history of reinsurance is correct?

View solution

Q. Which of the following statements about the reinsurer is correct?

View solution

Q. Which of the following statements about reinsurance is correct?

View solution

Q. Which of the following is incorrect with respect to advantages of reinsurance?

View solution

Q. What is the capacity of an insurer to accept risks with reinsurance support?

View solution

Q. What are the advantages of reinsurance?

View solution

Q. What is the function of reinsurance?

View solution

Q. What is the purpose of reinsurance?

View solution

Q. What is the analogy used by Dr. F.L. Tuma to describe the function of reinsurance?

View solution

Q. How can a well-planned reinsurance programme ensure long term profitability?

View solution

Q. What is the aim of the basic principle of spread of risks?

View solution

Q. How does reinsurance achieve a wider spread of risks?

View solution

Q. What is the function of excess of loss reinsurance protection?

View solution

Q. How can a well-planned reinsurance program ensure compliance of solvency norms?

View solution

Q. What is the purpose of arranging an excess of loss reinsurance protection?

View solution

Q. What is the basic principle of spread of risks?

View solution

Q. What are the factors that can cause major fluctuations in claims costs?

View solution

Q. What is the purpose of reinsurance in insurance business?

View solution

Q. What can cause major fluctuations in claims costs for an insurer?

View solution
View All MCQs on IC85 Reinsurance Management

Recommended Subjects

Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Human Resource Management

Explore the dynamic field of Human Resource Management (HRM) with our dedicated...

IC22 Life Insurance Underwriting

Prepare for success in the Insurance Institute of India (III) examination with IC22...

Environmental Engineering

Explore the critical field of Environmental Engineering with our dedicated category....

Sociology

Gain insights into human behavior and society with our Sociology category. Explore...

Heat Transfer

Explore the fascinating world of heat transfer with our Heat Transfer category....

Drug and Pharmaceutical Biotechnology

Navigate the world of pharmaceuticals and biotechnology with our dedicated category....

Environmental Biotechnology

Discover the intersection of biology and environmental science with our Environmental...

Cognitive Radio

Step into the dynamic world of Cognitive Radio, where wireless communication meets...

Business Statistics

Uncover the power of data analysis with our Business Statistics category. Explore...