A functional reinsurance is that it
...A functional reinsurance is that it
protects the account of the insurer against large claims
discourage the spread of risk in the insurance market
provides protection for uninsured losses
encourages the insured to make claims from more than one insurer
Correct answer is A
Reinsurance is also known as insurance for insurers or stop-loss insurance.Reinsurance is the practice whereby insurers transfer portions of their risk portfolios to other parties by some form of agreement to reduce the likelihood of paying a large obligation resulting from an insurance claim.
A general question in an insurance proposal form is ...
life insurance is a contract of? ...
The compensation would be calculated as ...
Non-indemnity insurance policies are referred to as ...
A primary function of insurance is the? ...
In an endowment policy, benefits are paid at death or ...
The first insurance company to establish its branch office in Nigeria is ...