Question
What is the purpose of "reinsurance treaties"?
Solution
These are agreements between an insurance company (the "ceding company") and a reinsurer, where the reinsurer agrees to accept specific risks from the ceding company. The primary purpose of a reinsurance treaty is to establish the terms and conditions under which an insurer (the ceding company) transfers a portion of its risks to a reinsurer.
More Insurance Awareness Questions
Choose the word which is opposite in meaning to the given word
FRUGAL
A person pretending to be somebody he isn't
Exhort
expound
Choose the word that is nearest in meaning to the bold word:
Pernicious
- Choose the alternative which can replace the bold word without changing the meaning of the sentence.
His arduous journey through the mountains left... In their defence, Facebook representatives present (A) at the meeting have said the algorithm has been designed (B) to decide which advertisments (C) d...
- Select the most appropriate synonym of the bold word in the given sentence.
The scientist made a crucial discovery in the field of medicine.
... Chattel
Apostate
