Question

ABC insurer wants to protect his whole book of business. Hence he enters into an arrangement where a single composite cover is installed for protection of its whole business, incorporating all classes of business. This arrangement is known as __________________.

a.

Excess of loss

b.

Aggregate excess of loss

c.

Whole account excess of loss

d.

Umbrella excess of loss

Posted under IC85 Reinsurance Management

Answer: (c).Whole account excess of loss Explanation:The given question describes a scenario where an insurer wants to protect their whole book of business and enters into an arrangement where a single composite cover is installed for protection of its whole business, incorporating all classes of business. This arrangement is known as Whole Account Excess of Loss cover.

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Q. ABC insurer wants to protect his whole book of business. Hence he enters into an arrangement where a single composite cover is installed for protection of its whole business,...
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