Question

How is a "Pool" defined in the insurance and reinsurance industry?

a.

A collective agreement between insurers to share losses and profits

b.

A group of insurers specializing in underwriting specific classes of business

c.

A jointly managed underwriting operation for insurance or reinsurance

d.

An association of insurers dedicated to providing coverage for high-risk risks

Posted under IC85 Reinsurance Management

Answer: (c).A jointly managed underwriting operation for insurance or reinsurance Explanation:A "Pool" as a joint underwriting operation in which participants assume a predetermined and fixed interest in all business written. Pools are independently managed by professionals, and members share in the premiums, losses, expenses, and profits. The terms "association" and "syndicate" are synonymous with a pool.

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Q. How is a "Pool" defined in the insurance and reinsurance industry?
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