Question

What information do reinsurers require when Auto/Fac cover contains only peak risks?

a.

Detailed information regarding the portfolio of business ceded there under

b.

Information regarding the limit of cover provided

c.

Information regarding the past record of large losses

d.

None of the above

Answer: (a).Detailed information regarding the portfolio of business ceded there under Explanation:Reinsurers require some detailed information regarding the portfolio of business ceded there under when Auto/Fac cover contains only peak risks.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What information do reinsurers require when Auto/Fac cover contains only peak risks?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What do reinsurers on higher surpluses and on facultative reinsurance examine?

Q. When may insurers resort to group underwriting?

Q. What is group underwriting?

Q. For what type of risks is reinsurance on an excess of loss basis possible?

Q. What happens when the excess of loss reinsurer asks for too big a share of the original premium?

Q. What types of risks are covered under engineering insurance?

Q. Why do many insurers need to liaise with specialist reinsurers in engineering insurance?

Q. What is the general practice for retentions in engineering insurance?

Q. What is the role of reinsurers in fixing retentions for engineering insurance?

Q. What are the risks associated with ALOP/DSU coverage in engineering insurance?

Q. In property insurance, the usual risk schedules of retention is based on several risk factors. Which of the following risk factors is not considered while preparing a risk schedule of retentions?

Q. What is the most common method of reinsurance for motor insurance?

Q. Which types of vehicles in motor insurance require excess of loss cover due to the high cost of fittings?

Q. What is the burning cost basis for rating excess of loss covers for motor insurance?

Q. What is the main reason for excess of loss covers being suitable for workmen's compensation insurance?

Q. Why is it wise to reinsure out on a proportional basis any risks carrying high exposure or risks where the rate level is considered inadequate?

Q. What are the three major classes of miscellaneous accident business?

Q. Which method of reinsurance is normally used in the Miscellaneous Department?

Q. What types of risks carry catastrophe exposures in Personal Accident business?

Q. What is the usual method of reinsurance for burglary?

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!