Question
a.
To provide additional commission to the reinsurer
b.
To provide additional commission to the ceding insurer
c.
To reduce the original commission paid by the reinsurer
d.
To reduce the original commission paid by the ceding insurer
Posted under IC85 Reinsurance Management
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What is the purpose of overriding commission?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. How can the overriding commission payable by the reinsurer be calculated?What is brokerage in reinsurance?
View solution
Q. How can the overriding commission payable by the reinsurer be calculated?
View solution
Q. How is the percentage of brokerage payable determined?
View solution
Q. What is profit commission in reinsurance?
View solution
Q. What are the two types of profit commission statements?
View solution
Q. Is profit commission common in non-proportional treaties?
View solution
Q. What is the difference between a profit commission on an "Accounting Year" basis and an "Underwriting Year" basis?
View solution
Q. What reserves are mentioned in the profit commission statement on an "Accounting Year" basis?
View solution
Q. When are readjustment statements rendered in a profit commission on an "Underwriting Year" basis?
View solution
Q. What can be done with the outstanding liability of an "Underwriting Year" in profit commission calculations?
View solution
Q. What reserves are not included in the profit commission statement on an "Underwriting Year" basis?
View solution
Q. When does the ceding insurer prepare a statement to determine whether a treaty shows a profit or a loss?
View solution
Q. What is the purpose of aggregating the results of subsections under a treaty?
View solution
Q. In addition to aggregating results for subsections under a treaty, what other provision is sometimes made?
View solution
Q. What are the different formulas used to determine the basis for calculating the profit commission payable?
View solution
Q. What happens if the final result is a loss?
View solution
Q. How is the profit commission percentage determined when the final result is a profit?
View solution
Q. What happens to the result of the previous year's statement if it is a loss?
View solution
Q. In which scenario is no profit commission paid in the current year?
View solution
Q. What is the recommended practice for maintaining a breakdown of results for a loss carried forward for a limited period?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
