Q. What is keyman insurance?

View solution

Q. What is the sum insured related to in keyman insurance?

View solution

Q. Who pays the premium for keyman insurance?

View solution

Q. What is accumulation in insurance?

View solution

Q. Why is accumulation control essential in insurance?

View solution

Q. Standard Fire and special peril insurance is a principal class of _____________

View solution

Q. What is the purpose of setting retention limits by management of an insurer?

View solution

Q. Who approves the retention limits set out by the management of an insurer?

View solution

Q. Are there any formulas or rules that enable an insurer or a reinsurer to decide on their retention?

View solution

Q. What is retention in practice a combination of?

View solution

Q. What are the two types of retention required to be managed?

View solution

Q. How is the per risk retention scaled down?

View solution

Q. How is the per event retention managed?

View solution

Q. Which of the following is a normal method of reinsurance in miscellaneous accident business?

View solution

Q. ‘If the risk is not a very good risk the insurer may keep less and the amount to be reinsured will therefore increase in case of treaties without a line limitation.’ This is true for which of the following categories of reinsurance?

View solution

Q. Which of the following types of insurance protects business debts of a firm which is dependent on a key individual for continuing its business?

View solution

Q. Which of the following is correct with respect to per risk retention?

View solution

Q. Which type of retention is managed through reasonable estimation of financial consequences and by allowing a catastrophe reserve for funds to accumulate and be available over the long term?

View solution