Question

Who are the parties involved in a reinsurance contract?

a.

Insured and reinsured

b.

Reinsured and reinsurer

c.

Insured and reinsurer

d.

Reinsurer and retrocessionaire

Answer: (b).Reinsured and reinsurer Explanation:The parties involved in a reinsurance contract are the reinsured (or ceding insurer) and the reinsurer. The reinsured is the original insurer who desires to transfer or relieve themselves of a part of the risk, and the reinsurer is the insurer who accepts that part of the risk through reinsurance.

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Q. Who are the parties involved in a reinsurance contract?

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