Question

What requirement must be met by reinsurers for insurers to place their reinsurance business outside India?

a.

BBB credit rating with Standard & Poor for the past 5 years

b.

A credit rating equivalent to BBB with any international rating agency

c.

Both a and b

d.

None of the above

Answer: (c).Both a and b Explanation:Insurers shall place their reinsurance business outside India with reinsurers who have enjoyed a credit rating of at least BBB (with Standard & Poor) or an equivalent rating with any other international rating agency for the past five years.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What requirement must be met by reinsurers for insurers to place their reinsurance business outside India?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. According to IRDAI regulations, when can insurers reinsure on a quota share basis?

Q. Which of the following is a requirement for life insurers when placing business with reinsurers, according to IRDAI regulations?

Q. What is the purpose of the Insurance Regulatory and Development Authority of India (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s) (First Amendment) Regulations, 2016?

Q. According to the amended regulations, what is the minimum retention requirement for Category I foreign reinsurers maintaining a branch office in India?

Q. What amendment is made in Regulation 16(g) of the regulations?

Q. According to the amended Regulation 28(9), what is the order of preference for offering best terms for participation in reinsurance?

Q. What action will the Authority undertake after a period of one year based on the reporting's made to it?

Q. What is the purpose of the amendment in Regulation 28(9)?

Q. Which statement best defines reinsurance?

Q. What does the direct insurer retain in a reinsurance arrangement?

Q. Which of the following is NOT an advantage of reinsurance?

Q. What are some considerations before implementing reinsurance?

Q. What types of reinsurance arrangements exist?

Q. Who determines the best retention limits in a reinsurance arrangement?

Q. How do reinsurance regulations impact insurance companies?

Q. In a reinsurance contract, the excess of the total amount of cover (T) over the retention amount (X) would be ____________ .

Q. The excess loss method of reinsurance is more predominant in which of the following types of insurance?

Q. While choosing retention limits, an insurer’s actuary would consider which of the following?

Q. Retention limits would be lower for high risk plans and higher for low risk plans. High risks would be on account of which of the following?

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!