Question

How are high value vehicles typically insured in accident/liability reinsurance?

a.

Quota-share

b.

Surplus reinsurance

c.

Facultative reinsurance

d.

Excess of loss

Answer: (a).Quota-share Explanation:High value vehicles are insured on a quota-share basis to spread the risk of private cars and commercial vehicles with high values.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How are high value vehicles typically insured in accident/liability reinsurance?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. How are personal accident risks typically addressed in accident/liability reinsurance?

Q. What events led to a reconsideration of the approach to personal accident insurance in India?

Q. What factors affect the approach to the risk of burglary exposure?

Q. What is the difference in approach towards employer's liability between India and the USA?

Q. What is the major difference between marine insurance and most other non-life classes of insurance?

Q. What is the role of a marine underwriter?

Q. What has the varied perils to which ships and cargo are exposed over many years resulted in?

Q. Why do marine reinsurers have to adopt different attitudes and practices than non-marine reinsurers?

Q. What is the difference between the problems of reinsurance for ocean-going vessels and local crafts?

Q. What is the Joint Hull Formula?

Q. What is the major difference between marine insurance and most other non-life classes of insurance?

Q. Why does a marine underwriter depend on good faith on the part of others?

Q. What are the two broad categories of hull insurance?

Q. What is the accumulation of risk in marine cargo insurance?

Q. What is the insurer concerned with in reinsurance for marine cargo?

Q. Why is a breakdown of the premium by the age and size of the vessels carrying the cargo important?

Q. What issue did cargo reinsurers face in regards to war risk cover in the last decade?

Q. What was the solution to the increased rates and reinstatement terms for war risk cover?

Q. What is the fundamental difference between the way a marine surplus functions and the way a property surplus functions?

Q. What is the significance of reinsurance in aviation insurance?

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!