Question

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

a.

The reinsurers have complete control of claim adjustmentTo investigate the occurrence independently

b.

The reinsurers are responsible for initiating legal proceedingsTo appoint a representative on behalf of the Reinsured

c.

The reinsurers follow the fortunes of the insurers in all circumstancesTo cooperate with the Reinsured in claim adjustment or investigation

d.

The reinsurers are bound by the insurers' decisions regarding claimsTo inform the insurers of any possible claim indemnifiable under the policy

Posted under IC85 Reinsurance Management

Answer: The reinsurers have complete control of claim adjustmentTo cooperate with the Reinsured in claim adjustment or investigation Explanation:The claims control clause in the policy stipulates that the reinsurers have complete control of the adjustment of all claims indemnifiable under the policy. This means they have the authority to oversee and manage the claim settlement process.In the claims co-operation clause, the role of the lead Reinsurer is to cooperate with the Reinsured in the adjustment of the claim or in the investigation of the occurrence. They may also appoint a representative to handle these tasks on their behalf. This collaboration ensures smooth communication and effective claim resolution between the parties.

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