Question
What is a type of reinsurance in which the reinsurer can
accept or reject any risk presented by an insurance company seeking reinsurance?Solution
Facultative insurance is reinsurance for a single risk or a defined package of risks. The ceding company (the primary insurer) is not compelled to submit these risks to the reinsurer, but neither is the reinsurer compelled to provide reinsurance protection. Each risk under a facultative contract is individually underwritten by the reinsurer. Agreement to provide reinsurance “facilitates” the primary insurer’s desire to write the business; without the reinsurance, the primary insurer may be unable to provide coverage for the agent.
The members of PM-KMY Scheme are required to make a monthly contribution to the Pension Fund between _______ to _________, depending on their age with ...
Consider the following Statements and choose the option with correct Statements.Â
(I) Pradhan Mantri Jan-Dhan Yojana was launched in 2014.
What is the new corporate identity of the National Highways Infra Trust (NHIT) launched by NHAI intended to depict?
The Budget identifies Agriculture, MSMEs, Investment, and Exports as the “four engines of growth.” Which of the following initiatives directly suppo...
What is the expected role of nuclear energy in India's future energy mix as mentioned in the Union Budget 2024-25?
Which of the following is/are the determinants of MSP?
(i) Cost of Production
(ii) demand and supply
(iii) price trend
(iv) ...
Which initiative was launched by Atal Innovation Mission NITI Aayog in collaboration with the Innovation Centre Denmark (ICDK) at the Royal Danish Emba...
Identify the Central Theme being discussed in the above passage.
Which of the following schemes is administered by Life Insurance Corporation?
What is the revised seedling production subsidy per unit under the new Coconut Development Board schemes?
