Q 1. What is the primary economic basis for insurance and reinsurance?
Q 2. When was the first reinsurance contract in fire insurance business concluded?
Q 3. What is the key goal of reinsurance regulations in India concerning overseas placements and cessions?
Q 4. Why is protection of solvency margins essential for an insurance company?
Q 5. What is one drawback of facultative obligatory treaties?
Q 6. How does the percentage retained by the ceding insurer in quota share reinsurance compare to that in surplus reinsurance?
Q 7. How is the level of ceding commission determined in a reinsurance treaty?
Q 8. What is the primary difference between proportional reinsurance and surplus reinsurance?
Q 9. What is co-insurance in the context of excess of loss cover?
Q 10. Which year had the highest burning cost percentage for the non-proportional treaty?
Q 11. Which two methods are commonly used to determine which claims fall within the scope of an excess of loss reinsurance contract?
Q 12. What does a larger portfolio of risks typically result in?
Q 13. Why is it necessary to modify the schedule of retentions in cases where more than one risk can be affected by one event?
Q 14. What factors influence the rating of the first layer of the catastrophe cover in reinsurance?
Q 15. What is the typical reinsurance method used in the Miscellaneous Department for Personal Accident, Cash-in-Transit, and Burglary?
Q 16. What is the purpose of Keyman insurance in the context of life reassurance?
Q 17. What is the major challenge in reinsurance for larger vessels in the marine hull insurance sector?
Q 18. How are retention limits determined within an insurer's office?
Q 19. What is the significance of the insurer's capacity to generate a good gross direct account in reinsurance decision-making?
Q 20. Why is it important for a reinsurer to know about the underwriter of a ceding insurer when accepting a share in a proportional treaty?
Q 21. Why is particular attention paid to the balance of the portfolio when considering the first surplus treaty?
Q 22. What additional responsibilities does the intermediary typically take on in reinsurance transactions?
Q 23. Who signs the policy for a facultative reinsurance contract?
Q 24. What does the retention clause in a reinsurance contract typically protect?
Q 25. Following the terrorist attack on the World Trade Centre in New York on September 11, 2001, why did world reinsurers cancel terrorism and sabotage cover in a matter of a fortnight?
