Property Casualty s - Samenvattingen en Aantekeningen

property casualty Final Exam Question with 100% complete Answers residual markets A market designed for those risks unable to find coverage in the ordinary market. Reinsurance Companies An insurance company that assumes all or a portion of a risk from a primary or ceding insurance company. treaty agreement Reinsurance agreement that covers all risks contained in the subject line(s) of business automatically. Facultative Agreements Allow the ceding insurer and the reinsurance compa...

Property Casualty Final Exam Questions with 100% correct Answers 2024 The reinsurer accepts the transfer according to an agreement called A Treaty Stock insurer -Owned by stockholders -Dividend is not guaranteed -Dividend is paid to stockholder -Dividend is taxable to stockholders -Issues non-participating policies Mutual insurer -owned by policyholders (customers) -dividend is not guaranteed -dividend is paid to policyholder -dividend is not taxable; considered refund of premium ...