Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points

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The insured has a direct relationship with the insurer and no relationship at all with the re-insurer.
Excess of loss covers are known as non-proportional type of reinsurance
Retention is the maximum amount an insurer will want to hold
Financial, physical and moral are the three hazards
When looking for reinsurance, the underwriter works at two levels - one is at risk level and the other is portfolio level.