Q. Which type of reinsurance accounts are normally rendered on an "Underwriting Year" basis?

View solution

Q. Is commission payable in non-proportional reinsurance?

View solution

Q. For which of the following type of business will the accounting be rendered on an ‘Accounts Year’ basis?

View solution

Q. Which of the following statements about reinsurance accounting formats is correct?

View solution

Q. Which part of the reinsurance account includes items such as premium and loss reserves, interest, and loss settlements?

View solution

Q. What is the purpose of reinsurance commission?

View solution

Q. How are premiums typically accounted for in reinsurance accounting?

View solution

Q. What is the primary advantage of using a flat rate of commission for reinsurance accounting?

View solution

Q. What is the purpose of using a sliding scale commission for reinsurance accounting?

View solution

Q. What is the purpose of the provisional commission in reinsurance accounting?

View solution

Q. What are earned premiums?

View solution

Q. What is deducted from earned premiums?

View solution

Q. What are incurred losses?

View solution

Q. What is added to incurred losses?

View solution

Q. What is the purpose of a provisional commission?

View solution

Q. How is the provisional commission determined?

View solution

Q. What does a sliding scale of commission aim to do?

View solution

Q. What is the purpose of the table of "Sliding Scale of Commission"?

View solution

Q. What is the purpose of overriding commission?

View solution

Q. How can the overriding commission payable by the reinsurer be calculated?What is brokerage in reinsurance?

View solution