Q. What does the term "Balance" represent in reinsurance?

View solution

Q. What is the function of a "Binder" in reinsurance?

View solution

Q. What is the purpose of "Bordereaux" reporting in reinsurance?

View solution

Q. Who is an intermediary that negotiates contracts of reinsurance on behalf of the reinsured?

View solution

Q. What is the burning cost used for in assessing a portfolio of business?

View solution

Q. How is capacity measured for an insurer?

View solution

Q. What does the provision of cash loss in proportional contracts allow the reinsured to do?

View solution

Q. What does catastrophe reinsurance provide coverage for?

View solution

Q. What is another term used to refer to the reinsured or ceding insurer?

View solution

Q. What does the term "cede" refer to in the context of reinsurance?

View solution

Q. What does the term "cede" refer to in the context of reinsurance?What is the key feature of a claims made basis in insurance or reinsurance contracts?

View solution

Q. What is the purpose of the closing particular in reinsurance?

View solution

Q. What does the term "commission" refer to in insurance and reinsurance?

View solution

Q. What does the ceding commission in reinsurance include?

View solution

Q. What does the term "overriding commission" typically refer to in reinsurance?

View solution

Q. What is the purpose of a commutation clause in reinsurance?

View solution

Q. What does a cover note indicate in the context of reinsurance?

View solution

Q. What does a cut-through clause allow in the event of the reinsured's insolvency?

View solution

Q. What is a deposit premium in reinsurance?

View solution

Q. What is direct written premium in insurance or reinsurance?

View solution