GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A form of reinsurance that indemnifies the ceding company for the accumulation of losses in excess of a stipulated sum arising from a single catastrophic event or series of events is termed as ____
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Treaty Reinsurance
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Facultative Reinsurance
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Catastrophe Reinsurance
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Excess of Loss Reinsurance
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Explanation:
Detailed explanation-1: -Explanation: Excess of loss reinsurance is a type of reinsurance in which the reinsurer indemnifies the ceding company for losses that exceed a specified limit.
Detailed explanation-2: -Catastrophe excess of loss is a form of excess of loss reinsurance where the reinsurer agrees to reimburse the amount of a very large loss in excess of a particular sum. What is this an image of?
Detailed explanation-3: -Catastrophe reinsurance is a form of reinsurance that indemnifies the ceding company for the accumulation of losses in excess of a stipulated sum arising from a single catastrophic event or series of events.
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