Q 1. What is the primary economic basis for insurance and reinsurance?
Q 2. Why do insurance companies need to be prepared for scenarios like earthquakes, tsunamis, and accumulations of many losses?
Q 3. What is the primary purpose of reinsurance in the insurance industry?
Q 4. What does reinsurance contract function as in the context of insurance?
Q 5. How does the Law of Large Numbers relate to the accuracy of probability of loss in insurance?
Q 6. What role do insurance regulators play in the insurance industry?
Q 7. What is the primary factor that influences the technical risk in reinsurance?
Q 8. What can considerably increase the risk faced by a reinsurer due to the improper business administration of the insurer?
Q 9. Which factor can affect the results of reinsurance due to its impact on the value of currencies?
Q 10. What can result in the loss of interest to the reinsurance markets and potentially lead to an increase in rates?
Q 11. Which type of risk, related to unjustified or exaggerated claims, is covered by the "Follow the Fortunes" clause in reinsurance contracts?
Q 12. What is the principle on which the relationship between the insurer and the reinsurer is based, particularly in automatic reinsurance?
Q 13. In what way are reinsurance operations easily controllable by supervisory authorities, and what can be subject to tax in these operations?
Q 14. What is the primary fiscal risk that reinsurers are exposed to, especially in countries with deficit budgets?
Q 15. What risk does a reinsurer face due to an accumulation of exposure from any single event or risk when providing cover to many companies?
Q 16. What is the primary responsibility of the cedant in the context of the principle of "uberrima fides" in reinsurance?
Q 17. What principle is violated when an insurer increases its motor business portfolio despite knowing that the tariff is insufficient?
Q 18. What does an insurer engage in when systematically underestimating loss reserves to earn a profit commission or obtain a more favorable excess of loss quotation?
Q 19. In the context of reinsurance, what is the relationship between the insurer and the reinsurer compared to insurance?
Q 20. In the case of an insurer's financial difficulties, how is the reinsurer affected from a technical point of view?
Q 21. What happens when a reinsurer becomes insolvent?
Q 22. What is the historical origin of reinsurance?
Q 23. When was the oldest known reinsurance contract in marine insurance concluded?
Q 24. In which country did the earliest reference to reinsurance in fire insurance business occur?
Q 25. When was the first reinsurance contract in fire insurance business concluded?
