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

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

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

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

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

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

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

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

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

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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 merit of the “losses occurring” basis?

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Q. Under the “losses occurring” basis, is the reinsurer liable for losses occurring after the contract ends, although the original policy may remain in force?

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Q. Is the present reinsurer relieved of liability if the original policy was issued before the inception date of the present contract, and while another excess of loss treaty was in force?

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Q. Under the “losses occurring” basis, are losses occurring within the contract period covered, no matter when the original policy was issued?

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Q. What are the method/s for determining which claims fall within the scope of the excess of loss cover?

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Q. What is the time zone used for a catastrophe treaty?

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Q. What is the purpose of specifying Hour and Time zone in the contract?

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Q. When does the reinsurer typically receive advice of outstanding losses?

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