Question
a.
Long run-off and difficulty of assigning a claim to the proper excess of loss contract year.To provide insight into the making of a slip used in placement and confirmation of reinsurance cover.
b.
No portfolio taken over at inception, no portfolio withdrawn at cancellation, and no checking when a claim occurs to see when the policy was issued and what contract was affected.To explain the different methods used for non-proportional reinsurances.
c.
None of the above.To discuss the headers used in a non-proportional slip.
d.
Both a and bTo provide a sample of a proportional slip.
Posted under IC85 Reinsurance Management
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What are the defects of the "risk attaching" basis?What is the purpose of the specimen slip?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. Which of the following is correct with regards to catastrophe cover?
View solution
Q. What does excess of loss - Catastrophe cover protect the reinsured against?
View solution
Q. Which method mitigates the impact of an unbearable net loss ratio?
View solution
Q. What does Aggregate excess of loss cover protect against?
View solution
Q. What does Whole Account Excess of Loss cover protect?
View solution
Q. What is the purpose of Umbrella excess of loss cover?
View solution
Q. What does non-proportional reinsurance protect?
View solution
Q. What happens to the cover in a non-proportional reinsurance after payment of loss?
View solution
Q. In case of Excess of Loss – Working (per risk), insurance protection is sought by the ceding reinsurer for ___________.
View solution
Q. Which of the following covers is sought for protection against an aggregation of losses arising from a common event such as flood?
View solution
Q. ________________ is a method that mitigates the impact of an unbearable net loss ratio.
View solution
Q. Which of the following covers is installed to assist to cover any gap in the various reinsurance arrangements made by a reinsured?
View solution
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.
View solution
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!
