Question

As per market practice, the intermediary issues a cover note to the insurer. Which of the following is not included in it?

a.

Terms of placement

b.

Premium

c.

Claim recoveries

d.

Participating underwriters with their shares set opposite their names

Answer: (c).Claim recoveries Explanation:The intermediary issues a cover note summarizing the terms of placement, premium, and participating underwriters with their shares set opposite their names. However, it does not mention anything about claim recoveries being included in the cover note. Therefore, option c is not included in the cover note.

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Q. As per market practice, the intermediary issues a cover note to the insurer. Which of the following is not included in it?

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