Question

What does the "Losses occurring basis" refer to in excess of loss insurance?

a.

The reinsurer's responsibility for all claims during the treaty period

b.

The reinsurer's responsibility for claims based on the original policies

c.

The reinsurer's responsibility for claims reported after the treaty period

d.

The reinsurer's responsibility for claims reported during the treaty period

Posted under IC85 Reinsurance Management

Answer: (a).The reinsurer's responsibility for all claims during the treaty period Explanation:The "Losses occurring basis" is a system used in excess of loss insurance where the reinsurer is responsible for all claims occurring during the currency of the treaty, without reference to the period of the original policies.

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Q. What does the "Losses occurring basis" refer to in excess of loss insurance?
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