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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

Q. What is the condition precedent to any liability to pay under the reinsurance contract?

View solution

Q. What does the claims control clause in the policy state?What role does the lead Reinsurer have in the claims co-operation clause?

View solution

Q. What does the claims control clause in the policy state?

View solution

Q. How do the reinsurers follow the fortunes of the insurers in the claims control clause?

View solution

Q. Which of the following is excluded from coverage under the political risks exclusion clause?

View solution

Q. What is the definition of an act of terrorism as per the endorsement?

View solution