Page 55 - Reinsurance Management IC85

The Insurance Times

March, 30th June, 30th September and 31st
December.

b. The Accounts are to be confirmed by the
Reinsurer within 15 days.

c. The balance on either side shall be paid, If there
are separate accounts for specified currencies that
is mentioned.

Q. What are the provisions regarding loss
advices and accounting of losses in a treaty
agreement?

Ans: Provisions relate to :-
a) Debiting of losses to the reinsurer in the accounts.
b) Requesting reinsurer to settle his share of loss if
an individual loss exceeds a previously agreed
sum.
c) Giving advice to the reinsurer when a loss reaches
an agreed amount.
d) Ceding company's sole right to adjust, compromise
and settle claims.
e) Advising outstanding losses at anniversary date.

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