Question

How are potential failures in administrative operations typically addressed in reinsurance agreements?

a.

By renegotiating the terms of the treaty

b.

By specifying remedies in the treaty

c.

By increasing reinsurance premiums

d.

By avoiding reinsurance arrangements altogether

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).By specifying remedies in the treaty Explanation:Potential failures in administrative operations in reinsurance agreements are typically addressed by specifying remedies in the treaty itself or through negotiations between the parties involved.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How are potential failures in administrative operations typically addressed in reinsurance agreements?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. Why is it important to manage data records consistently in reinsurance?

View solution

Q. What factors influence the type of reinsurance used by a ceding company?

View solution

Q. What does the type of reinsurance depend on?

View solution

Q. What is Original terms (coinsurance) reinsurance?

View solution

Q. What is Level risk premium reinsurance?

View solution

Q. How does Risk premium reinsurance work?

View solution

Q. Which type of reinsurance involves the reinsurer determining premium rates?

View solution

Q. What distinguishes Risk premium reinsurance from other types?

View solution

Q. What is Excess of loss reinsurance?

View solution

Q. What distinguishes catastrophe reinsurance from stop loss reinsurance?

View solution

Q. How is excess of loss reinsurance organized into different levels?

View solution

Q. What is the purpose of catastrophe reinsurance?

View solution

Q. How does stop loss reinsurance work?

View solution

Q. What is Excess of Loss reinsurance?

View solution

Q. What is Catastrophe reinsurance?

View solution

Q. What is Stop Loss reinsurance?

View solution

Q. What is Financial reinsurance primarily used for?

View solution

Q. What are the two main types of reinsurance based on obligation?

View solution

Q. What is the primary characteristic of the surplus arrangement in reinsurance?

View solution

Q. How is the reinsurance premium calculated in the surplus arrangement?

View solution
View All MCQs on IC 92 Actuarial Aspects of Product Development

Recommended Subjects

Are you eager to expand your knowledge beyond IC 92 Actuarial Aspects of Product Development? 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!

Engineering Materials

Discover the building blocks of engineering with our Engineering Materials category....

Mechanical Engineering

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

Electronics and Communication Engineering

Explore the dynamic field of Electronics and Communication Engineering with our...

Heat Transfer

Explore the fascinating world of heat transfer with our Heat Transfer category....

Geotechnical Engineering

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

DC Machines

Dive into the fundamentals of direct current (DC) machines with our specialized...

Data Interpretation

Master the art of data analysis and interpretation with our Data Interpretation...

Total Quality Management

Enhance your understanding of quality management with our Total Quality Management...

Textile Engineering

Explore the dynamic world of Textile Engineering with our specialized category. Delve...