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

View solution

Q. In the terrorism exclusion clause, what does it mean when it states that the exclusion applies "regardless of any other cause or event"?

View solution

Q. Who has the burden of proving the coverage for losses excluded under the terrorism exclusion clause?

View solution

Q. Which of the following activities would NOT be considered a "Terrorist Activity"?

View solution

Q. What is the condition under which an activity would NOT be considered a "Terrorist Activity"?

View solution

Q. The ___________ clause states that premium is to be paid to the reinsurer at the same rate as received by the ceding insurer.What is the purpose of preparing a slip in the reinsurance placement process?

View solution

Q. The ___________ clause states that premium is to be paid to the reinsurer at the same rate as received by the ceding insurer.

View solution

Q. Which document follows the slip to evidence the placement, protection, and terms of cover in reinsurance?

View solution

Q. How are the essential conditions of a reinsurance contract usually summarized?

View solution

Q. Which approach is used in constructing treaty wordings for reinsurance contracts?

View solution

Q. What is the purpose of a treaty slip in reinsurance?

View solution

Q. How are amendments usually made to a reinsurance treaty?

View solution

Q. What is the purpose of proper treaty documentation in reinsurance?

View solution

Q. What should be done if there are unacceptable conditions or absence of standard clauses in the reinsurance agreement?

View solution

Q. What is the requirement for stamping a treaty reinsurance agreement executed in India?

View solution

Q. How is the stamping of inward treaty agreements in India typically done?

View solution

Q. What is the procedure followed for stamping outward treaties in India?

View solution

Q. The ____________ serve the purpose of evidencing eventual acceptance of a share of the risk / treaty ceded by signing underwriters.

View solution

Q. The parties to the reinsurance contract are:

View solution

Q. The consideration for the reinsurance contract is:

View solution