Re-Insurance
Muhtasari
Who insures the insurer? When a Lagos company accepts a fire risk on a ₦2 billion refinery, it cannot afford to pay that claim alone if the plant burns down. So it does exactly what its own customers do: it passes part of the risk to someone bigger. That someone is a reinsurer, and the arrangement is called re-insurance, the quiet machinery that lets ordinary insurers safely accept risks far larger than their own pockets.
In this lesson you will learn what re-insurance really is and how it moves risk from one insurer to another, the difference between facultative and treaty cover, and how a single risk is carved up under quota share and surplus treaties. You will work through the splits examiners set, see why re-insurance is not the same thing as co-insurance, and meet the reinsurers that keep the Nigerian market standing.
Malengo
- Define re-insurance and explain how it transfers risk from one insurer to another
- Distinguish facultative from treaty re-insurance
- Explain the functions of re-insurance, including capacity, stability and catastrophe protection
- Describe the uses of re-insurance in the Nigerian insurance market
- Distinguish re-insurance from co-insurance
Maelezo ya Somo
Jisajili ili Uendelee
Tengeneza akaunti ya bure ili kupata rasilimali zote za kujifunza, maswali ya mazoezi, na kufuatilia maendeleo yako.
Tathmini ya Somo
Hongera kwa kukamilisha somo la Re-Insurance. Sasa kwa kuwa umechunguza dhana na mawazo muhimu, ni wakati wa kuweka ujuzi wako kwa mtihani. Sehemu hii inatoa mazoezi mbalimbali maswali yaliyoundwa ili kuimarisha uelewaji wako na kukusaidia kupima ufahamu wako wa nyenzo.
Utakutana na mchanganyiko wa aina mbalimbali za maswali, ikiwemo maswali ya kuchagua jibu sahihi, maswali ya majibu mafupi, na maswali ya insha. Kila swali limebuniwa kwa umakini ili kupima vipengele tofauti vya maarifa yako na ujuzi wa kufikiri kwa makini.
Tumia sehemu hii ya tathmini kama fursa ya kuimarisha uelewa wako wa mada na kubaini maeneo yoyote ambapo unaweza kuhitaji kusoma zaidi. Usikatishwe tamaa na changamoto zozote utakazokutana nazo; badala yake, zitazame kama fursa za kukua na kuboresha.
- Re-insurance is best described as: A. The sharing of one risk among several insurers who all face the insured B. The transfer by an insurer of part of a risk it has accepted to another insurer C. The payment of a claim by instalments D. Insurance taken out by a member of the public Answer: B
- In a re-insurance transaction, the insurer that passes on the risk is known as the: A. Reinsurer B. Ceding company C. Retrocessionaire D. Lead insurer Answer: B
- An insurer holds a 30 per cent retention, 70 per cent cession quota share treaty. On a claim of 20,000,000 naira, how much does the reinsurer pay? A. 6,000,000 naira B. 14,000,000 naira C. 20,000,000 naira D. 7,000,000 naira Answer: B
- Which type of re-insurance is obligatory, so that the insurer must cede and the reinsurer must accept every qualifying risk automatically? A. Facultative B. Treaty C. Retrocession D. Co-insurance Answer: B
- The process by which a reinsurer re-insures part of a risk it has accepted with another reinsurer is called: A. Retention B. Co-insurance C. Retrocession D. Subrogation Answer: C
Jisajili ili Uendelee
Tengeneza akaunti ya bure ili kupata rasilimali zote za kujifunza, maswali ya mazoezi, na kufuatilia maendeleo yako.
Jisajili ili Uendelee
Tengeneza akaunti ya bure ili kupata rasilimali zote za kujifunza, maswali ya mazoezi, na kufuatilia maendeleo yako.
Vitabu Vinavyopendekezwa
Maswali ya Zamani
Unajiuliza maswali ya zamani kuhusu mada hii yanaonekanaje? Hapa kuna idadi ya maswali kuhusu Re-Insurance kutoka miaka iliyopita.
Swali 1 Ripoti
Explain the following terms as used in insurance.
(a) re-insurance
(b) Loss adjusters
(c) underwriters
(d) brokers
(e) assessor
Jisajili ili Uendelee
Tengeneza akaunti ya bure ili kupata rasilimali zote za kujifunza, maswali ya mazoezi, na kufuatilia maendeleo yako.