5 Questions
What is reinsurance?
Insurance purchased by an insurance company from another insurance company to protect itself from major claims events
What does the ceding company do in reinsurance?
Passes on some of its insurance liabilities to another insurance company
What is the role of reinsurance in risk management?
Helps insurance companies remain solvent after major claims events
Who is referred to as the 'ceding company' in reinsurance?
The company that purchases the reinsurance policy
What may reinsurers be in the context of reinsurance?
Specialist reinsurance company or another insurance company
Test your knowledge of reinsurance with this quiz! Explore the concept of reinsurance, the roles of the ceding company and reinsurer, and how reinsurance helps manage risk in the insurance industry.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
