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

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

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

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

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

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

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Q. What is the purpose of the "Net Retained Lines" clause in reinsurance?

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Q. What is typically included in the "Net Retained Lines" clause?

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Q. Under the "Net Retained Lines" clause, which portion of insurance or reinsurance does the agreement protect?

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Q. In what circumstances can the "Net Retained Lines" clause be omitted from a treaty?

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Q. What is the purpose of the insolvency clause included in the "Net Retained Lines" clause?

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Q. What is the "ground up loss" in the context of reinsurance?

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Q. What is the definition of "ultimate net loss" in reinsurance?

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Q. What provision allows claims to be settled to the ceding insurer before determining the ultimate net loss?

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Q. Which items are deducted from the loss to determine the liability under the ultimate net loss provision?

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Q. Which items are deducted from the loss to determine the liability under the ultimate net loss provision?When can a recovery be made under the ultimate net loss provision?

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Q. What is the purpose of incorporating a "hours clause" in the definition of a loss occurrence for excess of loss reinsurance?

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Q. What is the duration and extent of a loss occurrence for hurricanes, typhoons, windstorms, rainstorms, hailstorms, and tornadoes?

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Q. How long is the duration and area limitation for riots, civil commotions, and malicious damage in a loss occurrence?

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Q. What is the duration of a loss occurrence for earthquakes, seaquakes, tidal waves, and volcanic eruptions?

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