Question

What legal framework governs reinsurance agreements?

a.

Regulatory law

b.

Contract law

c.

Common law

d.

Statutory law

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).Contract law Explanation:Reinsurance agreements are governed by contract law, as they are formal legal contracts between the insurance company and the reinsurer, outlining rights, responsibilities, and terms of payment.

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Q. What legal framework governs reinsurance agreements?
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