Question

What is a "Reinsuring Clause" in the context of reinsurance?

a.

The process of sharing premiums and losses in quota-share reinsurance

b.

The language that describes the coverage agreed upon by the parties in a reinsurance contract

c.

The mutual exchange of reinsurance between parties

d.

The restoration of a reinsurance limit to its full amount after a loss payment

Posted under IC85 Reinsurance Management

Answer: (b).The language that describes the coverage agreed upon by the parties in a reinsurance contract Explanation:A "Reinsuring Clause" can be defined as the language that describes the coverage agreed upon by the parties in a reinsurance contract. It includes the indemnity aspect, the type of business covered, and the method of determining whether a loss falls within the scope of the agreement.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is a "Reinsuring Clause" in the context of reinsurance?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is "Retention" in the context of reinsurance?

View solution

Q. What is "Retrocession" in the context of reinsurance?

View solution

Q. What is a "Retrocessionnaire"?

View solution

Q. What is "Risk Based Capital"?

View solution

Q. What is "Run-Off Cancellation or Termination"?

View solution

Q. What is "Setoff" in the context of reinsurance?

View solution

Q. What is "Sliding Scale Commission" in the context of pro rata treaty reinsurance?

View solution

Q. What is a "Slip" in the context of reinsurance?

View solution

Q. What is "Solvency Margin"?

View solution

Q. What is "Stop-Loss Reinsurance" also known as?

View solution

Q. What is "Surplus Reinsurance"?

View solution

Q. What is a "Surplus Treaty" in pro rata reinsurance?

View solution

Q. What is a "Syndicate" in the insurance industry?

View solution

Q. What is a "Treaty" in the context of reinsurance?

View solution

Q. What is a "Treaty" in the context of reinsurance?What is the meaning of "Uberrimae Fidei"?

View solution

Q. What is "Ultimate Net Loss" in reinsurance?

View solution

Q. What does "Underlying" refer to in insurance or reinsurance?

View solution

Q. What is the meaning of "Underwriting Year Experience"?

View solution

Q. What does the term "Underwriting-Year Basis" refer to in rating?

View solution

Q. What is the definition of "Unearned Premium Reserve"?

View solution
View All MCQs on IC85 Reinsurance Management

Recommended Subjects

Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Tissue Engineering

Delve into the cutting-edge field of Tissue Engineering with our specialized...

Environment Management

Master the art of Environment Management with our specialized category. Explore...

Mechatronics

Enter the world of integrated engineering systems with our Mechatronics category....

Chemistry

Unlock the mysteries of chemistry with our Chemistry category. Delve into the...

Mechanics of Materials

Unlock the principles of Mechanics of Materials with our specialized category. Dive...

General Knowledge

Expand your horizons and stay informed about the world with our General Knowledge...

IC 92 Actuarial Aspects of Product Development

Sharpen your understanding of actuarial principles in product development with our...

Avionics Engineering

Soar into the world of aviation technology with our Avionics Engineering category....

Engineering Geology

Explore the dynamic field of Engineering Geology with our specialized category. Delve...