Question

What is the agreement that exists in the London market regarding the total permissible commission on hull reinsurance?

a.

No such agreement exists

b.

There is a strict limit on the total permissible commission

c.

The limit on the total permissible commission is not strictly followed

d.

Insurers are not allowed to earn profit commission on hull reinsurance

Posted under IC85 Reinsurance Management

Answer: (c).The limit on the total permissible commission is not strictly followed Explanation:There is an agreement existing in the London market, although not strictly followed, limiting the total permissible commission on hull reinsurance.

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Q. What is the agreement that exists in the London market regarding the total permissible commission on hull reinsurance?
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