Question

Which of the following is an example of ‘short tail’ class of business?

a.

Property

b.

EAR

c.

Marine

d.

Liability

Posted under IC85 Reinsurance Management

Answer: (a).Property Explanation:In the given options, the class of business that falls under the category of "short tail" is property. Short tail refers to insurance lines where the claims are typically settled relatively quickly and the duration between policy inception and claim settlement is relatively short. Property insurance involves covering risks related to physical property, such as buildings, homes, and belongings, and the claims in property insurance are generally resolved in a shorter time frame compared to other classes of business like EAR (Erection All Risks), Marine, and Liability.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Which of the following is an example of ‘short tail’ class of business?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. As per IRDA regulation, who among the following can write inward reinsurance business from overseas insurers?

View solution

Q. What are the IRDA Regulations regarding inward reinsurance business?

View solution

Q. Which lines of business are most prevalent in reciprocal reinsurance trading?

View solution

Q. Why is reciprocal reinsurance trading considered important by ceding insurers?

View solution

Q. Why does the absence of retrocessional support exert significant influence on the rate quoted by lead underwriter as the primary reinsurer?

View solution

Q. What is the purpose of a management information system in the context of inward reinsurance?

View solution

Q. Why is retrocession an essential tool in the risk management process of reinsurers?

View solution

Q. Who writes inward reinsurance?

View solution

Q. According to IRDA Regulations, which insurers can write inward reinsurance business?

View solution

Q. In what scenario is retrocessional support particularly influential in inward reinsurance?Which type of reinsurance trading is considered important by ceding insurers?

View solution

Q. In what scenario is retrocessional support particularly influential in inward reinsurance?

View solution

Q. What is the requirement for monitoring the results of each acceptance and the inward portfolio in inward reinsurance?

View solution

Q. What is the role of retrocession in the risk management process of reinsurers?

View solution

Q. Which entities are involved in writing inward reinsurance?

View solution

Q. In inward reinsurance business, why is retrocession required?

View solution

Q. What is one requirement stated by IRDA regulations regarding the underwriting policy for inward reinsurance business?

View solution

Q. According to IRDA regulations, which entities can Indian insurers write inward reinsurance business from?

View solution

Q. What are the advantages of larger premium reciprocity for the ceding insurer?

View solution

Q. What is one potential danger in accepting large premium reciprocity from a treaty with low average profitability?

View solution

Q. In reciprocal reinsurance trading, what can be adjusted to keep the treaty exchanges balanced?

View solution
View All MCQs on IC85 Reinsurance Management

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!

International Relations

Navigate the complex world of International Relations with our dedicated category....

Engineering Materials

Discover the building blocks of engineering with our Engineering Materials category....

Basic Chemical Engineering

Get a solid foundation in Chemical Engineering with our Basic Chemical Engineering...

IC 14 Regulations of Insurance Business

Prepare for the IC 14 Regulations of Insurance Business exam with our focused set of...

Verbal Reasoning

Sharpen your logical thinking and reasoning abilities with our Verbal Reasoning...

Power Plant Engineering

Embark on a journey through the fascinating domain of Power Plant Engineering, where...

Data Interpretation

Master the art of data analysis and interpretation with our Data Interpretation...

Fluid Mechanics

Unlock the mysteries of fluids and their behavior with our Fluid Mechanics category....

Financial Management and Financial Markets

Master the world of finance with our Financial Management and Financial Markets...