Q. How are statements of accounts and balances typically sent in reinsurance placements?

View solution

Q. How is brokerage usually indicated in statements of accounts?

View solution

Q. How do brokers settle balances due to reinsurers?

View solution

Q. What is the purpose of an accounts flow chart in inward accounts management?

View solution

Q. What is the purpose of maintaining a cash loss register in inward accounts management?

View solution

Q. What is the purpose of the treaty journal in accounts management?

View solution

Q. What is the role of the reserves journal in accounts management?

View solution

Q. What is the purpose of retrocession processing in accounts management?

View solution

Q. What is the role of the personal ledger in accounts management?

View solution

Q. What is the purpose of examining outstanding claims while closing annual accounts?

View solution

Q. Which legislation prescribes the format for preparing annual accounts in India?

View solution

Q. What is required as per the Insurance Act, 1938 in relation to annual accounts?

View solution

Q. What information is required to be monitored and maintained as per the Insurance Rules?

View solution

Q. What information is required to be monitored and maintained as per the Insurance Rules?What is the purpose of reporting total placement to each reinsurer to the IRDA?

View solution

Q. What is the purpose of convergence to International Financial Reporting Standards (IFRS)?

View solution

Q. Which organization has planned the convergence of Indian accounting standards with IFRS?

View solution

Q. What is the impact of convergence to IFRS on non-life insurance and reinsurance business?

View solution

Q. What is the requirement of IFRS regarding the presentation of reinsurance transactions?

View solution

Q. What disclosure requirements are required by IRDA for insurers under IFRS?

View solution

Q. What is a major problem faced by a reinsurer when closing proportional treaty accounts?

View solution