Q. What factors influence the insurer's decision about retention limits?

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Q. What happens when the reinsurance market is "soft"?

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Q. What is the most important decision that any insurer is called upon to make?

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Q. What is a guide for an insurer in correcting the limits as they continue to write business over the years?

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Q. Retention is a combination of the financial consequences of__________

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Q. What is the first step in fixing retentions for property insurance?

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Q. What risk factors are used to determine the usual schedule of retentions for property insurance?

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Q. When dealing with large risks, what is customary in terms of fixing retentions?

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Q. What three factors does stability in the claims ratio depend on?

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Q. What is the approach followed by the majority of insurers to determine probable maximum loss exposure per event?

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Q. What is the purpose of the schedule of retentions?

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Q. What modifications may be made to the schedule of retentions for cases where more than one risk can readily be affected by one event?

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Q. What modifications may be made to the schedule of retentions for cases where more than one risk can readily be affected by one event?What is PML?

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Q. Why do reinsurers insist on full underwriting data in respect of the large risks?

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Q. What is the purpose of a schedule of retentions?

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Q. Which of the following is a catastrophe peril?

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Q. How is exposure per event controlled in areas with multiple risks affected by one event?

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Q. Why is it difficult to determine accumulation in catastrophe perils?

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Q. What is the purpose of catastrophe cover protection?

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Q. What is the purpose of a well-drawn schedule of retentions?

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