Question

What is the term for the date on which a contract is renewed, typically twelve months from the effective date of the contract?

a.

Aggregate Excess

b.

Alternative Risk Financing

c.

Anniversary

d.

Arbitration Clause

Answer: (c).Anniversary Explanation:Anniversary refers to the date for the renewal of a contract, usually twelve months from the effective date of the contract. Note that in provisions dealing with run-off of contracts, the anniversary date refers to that of the underlying policies and not the reinsurance contract.

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Q. What is the term for the date on which a contract is renewed, typically twelve months from the effective date of the contract?

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