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.

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