Q. In the reinstatement clause of a reinsurance agreement, what is the purpose of the provision regarding the extent of reinstatement?

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Q. Under the PML excess clause, what is the limit of additional liability imposed on the reinsurer if the estimated probable maximum loss (PML) is exceeded?

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Q. What happens if the application of the PML excess clause leads to different shares in a loss for the direct insurer and the reinsurer?

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Q. Which provision in a reinsurance agreement overrides other terms and conditions, including the errors clause?

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Q. In reinsurance agreements, what is the purpose of the extension of cover clause?

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Q. What is the purpose of the downgrade clause in reinsurance agreements?

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Q. How do downgrade clauses in reinsurance agreements typically respond to a rating downgrade of the reinsurer?

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Q. What triggers the activation of a downgrade clause in reinsurance agreements?

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Q. What is the purpose of a cut-through provision in reinsurance agreements?

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Q. When is a cut-through clause typically triggered in reinsurance agreements?

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Q. In what situations can a cut-through provision be used in reinsurance agreements?

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Q. What is the purpose of drafting a cut-through provision in a specific way in reinsurance agreements?

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Q. What is the purpose of an errors and omissions clause in reinsurance agreements?

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Q. What does the term "Loss Occurrence" mean in reinsurance agreements?

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Q. How is the duration and extent of a Loss Occurrence defined for catastrophes other than hurricanes, earthquakes, and volcanic eruptions?

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Q. How does the Company determine the claim period in case a catastrophe involves multiple insured perils?

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Q. What is the purpose of the index clause in the reinsurance agreement?

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Q. Under what condition is the index clause not applied in the reinsurance agreement?

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Q. How is the time of payment of any claim determined in the reinsurance agreement?

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Q. What happens to the priority and liability in the index clause when the Index fluctuates by 10% or more?

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