This is a discussion on InsuRAnCE qUIz... within the Contests , Quizes and Community Games forums, part of the Quiz , Marketplace and Community games category; could u plzzzzzzzzzz justify ur answers..................y contribution..
d answer to the last quest is nos.2
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ruvi_143 heres ur justification... contribution clause \coinsurance clause :A clause which requires the policyholder to maintain at all times a certain percentage of insurance to the actual value of the property insured. If they fail to maintain the required percentage, they have to pay part of every loss themselves.
Pro Rata Reinsurance
A generic term describing all forms of reinsurance in which the reinsurer shares a proportional part of the original losses and premiums of the ceding company. Also known as Participating Reinsurance and Proportional Reinsurance
Subrogation
Subrogation is the right of recovery of one party against another party. This refers to the rights of the HMO or provider group to recover additional monies from a second insurance policy. In managed care, it refers mostly to an obligation of the provider group to use all legal remedies to repay the reinsurer for any claims paid, and whatever else they can collect.
Quota Share or (Pro Rata)
Quota Share reinsurance sometimes referred to as "Proportional" or "Pro Rata" is coverage providing a specified percentage of premiums, expenses and claims losses between the primary insurer (ceding company) and the Reinsurer. Risk transfer can assume up to 100% of the total premium risk. It is typically a first dollar coverage, where the reinsurer receives the same percentage of premium as it funds claims.
ROshCRazy..
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n haan, d answer to the last question is also wrong ...its "loading of premium"
next question:
an agent , if his licence is cancelled by the designated person, can apply for a fresh licence after a period of __ yrs from d date of such cancellation
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2.2
3.5
4.4
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rosh.....................is the ans 2 yrs........................
thanks for the justification.......................if u don mind, cud u kus justify the previous ans too.........................i guess im too bad at insurance contests.
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search it frn....i cant sit n justify each n every answer.....
n ur wrong agn...d answer is 5 yrs...
ROshCRazy..
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heres the next question:the most imp. duty of a surveyor is:
1. to protect the insurer
2. to protect the salvage
3.to minimise the losses
4.to determine the cause and extent of losses
ROshCRazy..
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the answer is:4.to determine the cause and extent of losses
next question:subject to no claim, health check-up is payable under mediclaim policy once in every __ years.
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ROshCRazy..
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