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.
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