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?

View solution

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

View solution

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

View solution

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

View solution

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

View solution

Q. What are some important aspects to consider when analyzing the gross portfolio for marine-cargo reinsurance?

View solution

Q. What are the three types of miscellaneous accident business?

View solution

Q. What is the normal method of reinsurance in the Miscellaneous Department?

View solution

Q. What is the level of retention based on in the Personal Accident business?

View solution

Q. What type of reinsurance is capable of being used for burglary?

View solution

Q. Why is a quota share treaty not a satisfactory solution for insurers?

View solution

Q. What are the two distinct classes of loss exposures?

View solution

Q. How are retentions fixed for smaller and older vessels?

View solution

Q. What is the purpose of a quota share treaty?

View solution

Q. What is the first step in determining the retention that can be supported by the portfolio of the ceding insurer?

View solution

Q. How is excess of loss protection used by insurers?

View solution

Q. How is the extent of cover necessary for excess of loss protection determined?

View solution

Q. Why is it common practice to place excess of loss cover on a per voyage per event basis?

View solution

Q. What is the purpose of splitting the cover into layers in excess of loss cover?

View solution

Q. How is the technical rating of the basis cover determined?

View solution