Question

What does the term "hours clause" refer to in reinsurance?

a.

A clause that limits the time period for reporting claims

b.

A clause that specifies the duration of a reinsurance policy

c.

A clause that defines the working hours for reinsurance transactions

d.

A clause that determines the coverage period for specific occurrences

Posted under IC85 Reinsurance Management

Answer: (d).A clause that determines the coverage period for specific occurrences Explanation:The hours clause is a colloquial term used in reinsurance to limit the time period during which claims resulting from a specific occurrence can be included as part of the loss subject to the coverage. It is commonly used in property reinsurance for events like windstorms, conflagrations, or earthquakes.

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Q. What does the term "hours clause" refer to in reinsurance?
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