Question

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

a.

The primary layer of insurance or reinsurance coverage

b.

The excess layer of insurance or reinsurance coverage

c.

The retrocession layer of reinsurance coverage

d.

The net loss after deducting recoveries and reinsurance

Posted under IC85 Reinsurance Management

Answer: (a).The primary layer of insurance or reinsurance coverage Explanation:"Underlying" represents the amount of loss that attaches before the next higher excess layer of insurance or reinsurance comes into effect. It refers to the primary layer of coverage.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

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

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

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

View solution

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

View solution

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

View solution

Q. What is "Surplus Reinsurance"?

View solution

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

View solution

Q. What is "Solvency Margin"?

View solution

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

View solution

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

View solution

Q. What is "Risk Based Capital"?

View solution

Q. What is a "Retrocessionnaire"?

View solution

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

View solution

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

View solution

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

View solution

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

View solution

Q. What is "Quota-Share Reinsurance"?What is "Reciprocity" in the context of reinsurance?

View solution

Q. What is "Quota-Share Reinsurance"?

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!

Mechanical Engineering

Explore the world of Mechanical Engineering with our specialized category. Dive into...

Biochemistry

Delve into the intricate world of Biochemistry with our Biochemistry category....

Marketing and Marketing Management

Uncover the strategies and tactics of marketing with our Marketing and Marketing...

Mass Transfer

Delve into the science of Mass Transfer with our specialized category. Explore...

International Relations

Navigate the complex world of International Relations with our dedicated category....

Cytogenetics

Delve into the genetic mysteries of chromosomes with our Cytogenetics category....

Electrical Measurement and Instrumentation

Unlock the world of electrical measurements with our dedicated category. Explore...

Geotechnical Engineering

Dive into the world of Geotechnical Engineering with our dedicated category. Explore...

Genetic Engineering

Unlock the potential of Genetic Engineering with our dedicated category. Explore gene...