Page 153 - Reinsurance Management IC85

Reinsurance Management

expertise of reinsurer in designing of product
and also in pricing as reinsurer may be present
in the same market.

Reinsurance helps smaller companies to compete
with large players in the market.

Q2. Write short notes on any five of the following-
a) UNCTAD
b) Cash Loss
c) 72 Hours clause
d) Acquisition Cost
e) Claims made basis
f) Unearned Premium Reserve
g) Risk Based Capital
h) Securitisation

Ans: a) UNCTAD: United Nations Conference on Trade
and Development advised developing countries in
Africa and far east to develop their own insurance
market and reduce their dependence on foreign
insurance companies.

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