Q. What is important in understanding a clause in a reinsurance contract?

View solution

Q. Which clause in a reinsurance contract describes the business coming within the scope of the contract?

View solution

Q. What does the operative clause of a reinsurance contract emphasize?

View solution

Q. What is mentioned in the operative clause regarding the method of cession?What does the territorial scope in the operative clause refer to?

View solution

Q. What is mentioned in the operative clause regarding the method of cession?

View solution

Q. What does the insurer have the authority to determine in the operative clause?

View solution

Q. When does a reinsurance agreement typically commence?

View solution

Q. How long does an annual reinsurance contract typically last?

View solution

Q. What is required to terminate a reinsurance agreement?

View solution

Q. Under what circumstances can a reinsurance agreement be automatically terminated?

View solution

Q. In what situation can the insurer terminate the agreement without notice?

View solution

Q. Under what circumstances can either party terminate the agreement immediately?

View solution

Q. Where should notices of termination be addressed?

View solution

Q. Under what circumstances can the insurer make the termination effective retroactively?

View solution

Q. What is the purpose of the "notice of cancellation at anniversary date" provision?

View solution

Q. When does the provision of "notice of cancellation at anniversary date" typically apply?

View solution

Q. What does the reinsurer continue to do during the term of notice of cancellation?

View solution

Q. What is the purpose of sending a "Provisional Notice of Cancellation" (PNC) by reinsurers?

View solution

Q. What action should a reinsurer take if they decide to continue the contract after sending a provisional notice of cancellation?

View solution

Q. Under what circumstances can a reinsurance agreement be automatically terminated?

View solution