Q. What are the two methods used for determining which claim falls within the scope of the excess of loss cover?

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Q. What is the "loss occurring" basis used for in excess of loss contracts?

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Q. What is the "risk attaching" basis used for in excess of loss contracts?

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Q. Under which basis do claims under policies issued or renewed during the contract period are covered no matter in which year they may occur?

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Q. What are the defects of the "risk attaching" basis?

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Q. What are the defects of the "risk attaching" basis?What is the purpose of the specimen slip?

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Q. Which of the following is correct with regards to catastrophe cover?

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Q. What does excess of loss - Catastrophe cover protect the reinsured against?

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Q. Which method mitigates the impact of an unbearable net loss ratio?

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Q. What does Aggregate excess of loss cover protect against?

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Q. What does Whole Account Excess of Loss cover protect?

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Q. What is the purpose of Umbrella excess of loss cover?

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Q. What does non-proportional reinsurance protect?

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Q. What happens to the cover in a non-proportional reinsurance after payment of loss?

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Q. In case of Excess of Loss – Working (per risk), insurance protection is sought by the ceding reinsurer for ___________.

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Q. Which of the following covers is sought for protection against an aggregation of losses arising from a common event such as flood?

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Q. ________________ is a method that mitigates the impact of an unbearable net loss ratio.

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Q. Which of the following covers is installed to assist to cover any gap in the various reinsurance arrangements made by a reinsured?

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Q. ________________ are also known as Working Excess of Loss covers and are used to reduce the insurer’s loss in respect of a single risk.

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