Important Points for IC 22 - Life Insurance Underwriting Exam

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  • The reinsurance treaty between the direct insurer and the reinsurer contains provisions and conditions related to facultative reinsurance, automatic reinsurance, retention limits etc.
  • In retrocession, the reinsurance company that accepts the transfer of risk from another reinsurer is known as retrocessionaire.
  • Retrocession is a process in which a reinsurer reinsures its risks with another reinsurer.
  • In the case of a claim, insurance company ABC will pay the entire claim to Santosh, irrespective of whether reinsurer XYZ pays or doesn't pay its share of the claim to insurance company ABC.
  • Plasma is the liquid component of blood, in which the red blood cells, white blood cells and platelets are suspended.

Life Insurance Underwriting

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