A) Reinsurance
B) Double-insurance
C) Co-insurance
D) Void-insurance
E) Dual Insurance
Correct Answer: A
Solution :
Reinsurance - situations when Insurer passes some part of or all risks to another Insurer called Reinsurer. Other important terms are;? Co-insurance: risks shared between insurers |
? Dual insurance: risks having two or more policies with same coverage |
? Self-insurance: situations where risk is not transferred to insurance companies and solely retained by the entities or individuals themselves. |
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