Q. What expenses are the reinsurer liable for in a reinsurance agreement?

View solution

Q. Which of the following is designed to protect the ceding insurer against any inadvertent delays, errors or omissions?

View solution

Q. What does the "Business Covered: Attachment of cessions - proportional" clause deal with?

View solution

Q. When does the reinsurance apply according to the "Business Covered: Attachment of cessions - proportional" clause?

View solution

Q. What is the purpose of the "Business Covered: Attachment of cessions - proportional" clause for quota share reinsurance?

View solution

Q. Which risks are typically excluded by reinsurers in relation to the "Business Covered: Attachment of cessions - proportional" clause?

View solution

Q. What caused undue hardship to ceding insurers and their insured's in relation to terrorism and sabotage risks?

View solution

Q. Why are obligatory reinsurances and retrocessions of inward treaty reinsurances excluded under the "Business Covered: Attachment of cessions - proportional" clause?

View solution

Q. Which type of reinsurance is more akin to direct business and therefore not excluded under the "Business Covered: Attachment of cessions - proportional" clause?

View solution

Q. What does the "Business Covered: Insuring clause non-proportional" clause specify?

View solution

Q. What is the purpose of the deductible in non-proportional reinsurance?

View solution

Q. Which basis of reinsurance application is linked to "each loss each risk"?

View solution

Q. What is the purpose of the reinstatement provision in non-proportional reinsurance?

View solution

Q. How do reinsurers on a layered excess of loss cover consider the deductible?

View solution

Q. Which aspect must be clearly stated in the "Business Covered: Insuring clause non-proportional" clause for layered excess of loss cover?

View solution

Q. What is the purpose of obtaining the consent of reinsurers when a ceding insurer introduces a change in its business approach?

View solution

Q. What does the "Original conditions: Follow the fortunes" clause state?

View solution

Q. What does the concept of "follow the fortunes" mean in reinsurance?

View solution

Q. How does the "follow the fortunes" clause apply to the ceding insurer's financial losses?

View solution

Q. What is the exception to the traditional concept of "follow the fortunes" in reinsurance?

View solution