Q. Which of the following reinsurance commission method is used to calculate the rate of commission based on the loss ratio of the treaty during any one treaty year or during any one underwriting year?____________ is an additional percentage payable to a ceding insurer on profitable treaties in accordance with an agreed formula.

View solution

Q. Which of the following reinsurance commission method is used to calculate the rate of commission based on the loss ratio of the treaty during any one treaty year or during any one underwriting year?

View solution

Q. Which regulatory authority grants permission to GIC Re as an authorized dealer to arrange remittances of foreign exchange for reinsurance arrangements?

View solution

Q. Who reviews and approves the reinsurance arrangements of the GIC Re?

View solution

Q. What law and regulation govern the use of foreign exchange in respect of insurance and reinsurance transactions overseas in India?

View solution

Q. Which country levies a Service Tax of 5% on direct premium?

View solution

Q. What is profit commission in reinsurance?

View solution

Q. How is the percentage of brokerage payable in reinsurance determined?

View solution

Q. What is overriding commission in reinsurance?

View solution

Q. How is reinsurance commission typically expressed?

View solution

Q. What aspects is reinsurance accounting comprehensively connected with?

View solution

Q. In India, which of the following Acts governs the law and regulation relating to use of foreign exchange in respect of insurance and reinsurance transactions overseas?

View solution

Q. Which statement is required to be submitted annually to the Reserve Bank of India by insurers in India?

View solution

Q. Which statements are required to be submitted periodically to the Reserve Bank of India by insurers in India?

View solution

Q. Without requiring permission, which types of claims can be settled by insurers in India?

View solution

Q. Which liabilities can be paid out of foreign currency accounts by insurers in India?

View solution

Q. What type of payments can be received into foreign currency accounts by insurers in India?

View solution

Q. Which entities are permitted by the Reserve Bank of India to maintain foreign currency accounts in foreign countries for facilitating general insurance business undertaken abroad?

View solution

Q. How do insurers in India obtain permission to remit foreign exchange for their reinsurance transactions?

View solution

Q. Who grants permission to GIC Re, the national reinsurer of India, for arranging remittances of foreign exchange in respect of their reinsurance arrangements?

View solution