Page 309 - Reinsurance Management IC85

The Insurance Times

Aggregation - Motor and personal accident
exposures can aggregate from a reinsurer's point
of view. This means that from the same event
reinsurers could suffer a loss from both personal
accident and motor policies. This could be from a
natural perils loss (for example an earthquake
could injure a large number of people and damage
a number of vehicles) or from a man-made peril
(for example a terrorist attack could result in the
destruction of an office/car park complex).

Q2. Certain wording clauses are common to
both proportional and non proportional
wordings. Draft a list of these for your
wordings department with a summary of
the purpose of each clause.

Ans: The applicable clauses.

Underwriting policy
This stipulates that the agreement has been concluded
on the basis of the reinsured's known management
and underwriting policies.

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