Q. How does an accurate and efficient information system benefit the primary insurer in reinsurance business?What is the purpose of maintaining accurate statistics in reinsurance business?

View solution

Q. How does an accurate and efficient information system benefit the primary insurer in reinsurance business?

View solution

Q. What information must the primary insurer make available for inspection by the reinsurer?

View solution

Q. What types of reinsurance statistics are required for effective control?

View solution

Q. When should a major review of acceptances in a treaty be conducted?

View solution

Q. What is the purpose of gathering and analyzing reinsurance statistics?

View solution

Q. What should be reviewed in relation to the accounted premium of a treaty?

View solution

Q. Which individuals are responsible for conducting reviews of reinsurance treaties?

View solution

Q. What factors should be considered when tendering a provisional notice of cancellation to the ceding insurer?

View solution

Q. How long is the typical monitoring period to assess the quality of a treaty?

View solution

Q. What information is summarized in a sheet for treaties with reciprocal exchange?

View solution

Q. What factors are considered when reviewing excess of loss reinsurance?

View solution

Q. What actions should be taken when a provisional notice of cancellation is given by the ceding insurer?

View solution

Q. How do reinsurers estimate outstanding losses for acceptances?

View solution

Q. Which method can be used to estimate outstanding claims if renewal statistics information is provided?

View solution

Q. What does IBNR stand for in the context of estimating outstanding claims?

View solution

Q. Why is it important to combine different methods and maintain consistency in making provisions for outstanding losses?

View solution

Q. What is the purpose of making an additional provision for claims incurred but not reported (IBNR)?

View solution

Q. What is the primary purpose of controlling accumulation hazards in reinsurance?

View solution

Q. What is the role of underwriters in controlling accumulation hazards?

View solution