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All the following statements concerning the cession form used for reinsurance purposes are correct, EXCEPT: a) It sets forth the details of the risk and
All the following statements concerning the cession form used for reinsurance purposes are correct, EXCEPT:
a) It sets forth the details of the risk and the schedule of reinsurance premiums.
b) The form differs, depending on whether a facultative or automatic type of agreement is used.
c) Provision is usually made in the form for the primary company to pay the reinsurance premiums on an annual basis.
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