Question

What is the purpose of the closing particular in reinsurance?

a.

Finalize the details of a risk for placement with reinsurers

b.

Provide updates on claim settlements

c.

Determine the ceding commission amount

d.

Calculate the reinsurance premium

Posted under IC85 Reinsurance Management

Answer: (a).Finalize the details of a risk for placement with reinsurers Explanation:The closing particular involves providing final advice on full particulars of a risk for which placement with reinsurers is completed. It is the stage where all necessary details are finalized.

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