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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Q. Why is catastrophe cover protection needed?

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Q. What is the problem with determining accumulation of risk?

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Q. How is the problem of accumulation of risk in conflagration areas solved?

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Q. How do insurers augment their retention?

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