Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 11 1 pts Liability Insurance Company (LIC) was approached by a regional airline to see if LIC would write the airline's liability coverage. LIC

image text in transcribed
Question 11 1 pts Liability Insurance Company (LIC) was approached by a regional airline to see if LIC would write the airline's liability coverage. LIC agreed to write the coverage and entered into an agreement with a reinsurer. Under the agreement, LIC retains 25 percent of the premium and pays 25 percent of the losses, and the reinsurer receives 75 percent of the premium and pays 75 percent of the losses. This reinsurance arrangement is best described as O pool reinsurance. surplus-share reinsurance. O excess-of-loss reinsurance O quota-share reinsurance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

S. Use various tools and techniques of time control.

Answered: 1 week ago