Differentiate between ‘Excess of loss’ and ‘Excess of loss ratio’
Differentiate between ‘Excess of loss’ and ‘Excess of loss ratio’ Excess of loss is a generic term describing reinsurance which, subject to a specified limit,…
Business
Rating and Class rating
Rating: Rating determining the amount of premium to be paid to insure or reinsure a risk. Example: The estimate of the size of the television…
Roles of Reinsurance
Reinsurance occurs when multiple insurance companies share risk by purchasing insurance policies from other insurers to limit the total loss the original insurer would experience…
Different Treaties in Reinsurance
Different Treaties in Reinsurance Treaty Reinsurance is a pre-negotiated agreement between the primary and the reinsurer. Under this method, there is an arrangement between the…
Treaty Reinsurance
Treaty Reinsurance is a pre-negotiated agreement between the primary and the reinsurer. Under this method, there is an arrangement between the ceding company and reinsurer…
Facultative Reinsurance
Facultative reinsurance is purchased by a principal insurer to cover a single risk or a block of risks held in the principal insurer’s book of…
Review the legal considerations of Reinsurance Contract
Reinsurance occurs when multiple insurance companies share risk by purchasing insurance policies from other insurers to limit the total loss the original insurer would experience…
Reinsurance
Reinsurance occurs when multiple insurance companies share risk by purchasing insurance policies from other insurers to limit the total loss the original insurer would experience…
Ex Gratia Payment
Ex Gratia Payment is a payment made to help someone or as a gift, not because you have a legal duty to make it. In…
Essentials of Insurable Interest
Essentials of Insurable Interest Insurable Interest is an economic stake in an event for which an insurance policy is purchased to mitigate the risk of…
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