Question

Who should make decisions on the acceptance of reinsurance business, according to the Life Insurance and General Insurance Reinsurance Regulations?

a.

Junior underwriters.

b.

External consultants.

c.

Persons with adequate knowledge and experience.

d.

Marketing executives.

Answer: (c).Persons with adequate knowledge and experience. Explanation:Insurers should ensure that decisions on the acceptance of reinsurance business are made by persons with adequate knowledge and experience, preferably in consultation with the insurer's appointed actuary.

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Q. Who should make decisions on the acceptance of reinsurance business, according to the Life Insurance and General Insurance Reinsurance Regulations?

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