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The Insurance Times
heavy losses in various departments (fire,
marine, motor etc.) simultaneously. In order
to protect against such an event, a company
may arrange for an umbrella cover to protect
accumulations of net loss from a number of
classes of business arising out of one event,
after operation of all specific reinsurances in
each department.
d. Excess of loss cover to protect an excess
of loss portfolio: This cover provides
protection to a company which accepts inward
reinsurance of excess of loss covers which
might lead to accumulation of liability.
The cost of excess of loss of protection for
an excess of loss portfolio is usually higher
than that for an excess of loss on a direct
account as potential exposure to unknown
accumulations is high.
e. Protection for inward account: A company
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