Question

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

a.

To track cash loss payments made to the ceding insurer

b.

To monitor the profitability of the reinsurance placements

c.

To maintain a record of large losses and their settlement details

d.

To reconcile balances between the ceding insurer and reinsurer

Answer: (c).To maintain a record of large losses and their settlement details Explanation:The cash loss register is maintained to keep a record of large losses and their settlement details, including the date of advice, brief particulars of the loss, estimated loss, paid amount, date of payment of cash loss, and the quarter in which credit is received.

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

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