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What isRisk attaching basis versus loss occurring basis?
Risks attaching basisA basis under which reinsurance is provided for claims arising from policies commencing during the period to which the reinsurance relates. The insurer knows there is coverage during the whole policy period even if claims are only discovered or made later on.All claims from cedant underlying policies incepting during the period of the reinsurance contract are covered even if they occur after the expiration date of the reinsurance contract. Any claims from cedant underlying policies incepting outside the period of the reinsurance contract are not covered even if they occur during the period of the reinsurance contract.Losses occurring basisA Reinsurance treaty under which all claims occurring during the period of the contract, irrespective of when the underlying policies incepted, are covered. Any claims occurring after the contract expiration date are not covered. As opposed to claims-made or risks attaching contracts. Insurance coverage is provided for losses occurring in the defined period. This is the usual basis of cover for short tail business.
What is the title of the person in an insurance company who calculates the amount of compensation to be paid?
A claims representative or claims adjuster fits this description.
Which of the following is the lowest in priority of claims against a bankrupt firm?
The lowest priority of claims against a bankrupt firm are common stocks.
What happens if the mortgage and deed are in two names and one claims banckrupcy?
What happens if the mortgage and deed are in two names and one claims banckrupcy
How may a citizen sue the government in the US court of federal claims?
Because of its sovereign immunity the United States Government cannot be sued without its consent. Congress set up the Court of Claims in 1855 to hear pleas of people with claims against the government. The Court of Claims was later renamed the United States Court of Federal Clams(1993). This court is composed of 16 judges who were appointed by the President and approved by the Senate. Each judge serves a 15 year term. They hold trials hearing claims for damages against the Federal Government. They choose which claims to uphold and the claims will be paid when Congress appropriates the money for it. Appeals may be carried to the Court of Appeals for the Federal Circuit.
What has the author Denis Riley written?
Denis Riley has written: 'Consequential loss and business interruption insurances and claims' -- subject(s): Business income insurance, Business interruption Insurance, Insurance, Business interruption 'Riley on business interruption and consequential loss insurances and claims' -- subject(s): Business income insurance
What is the legal definition of consequential loss?
It is the loss in the value of loss resulting from the use of property
How do you make a sentence with consequential?
Having a baby is the most consequential decision a person can make, so he was understandably furious that she had made it for him by deliberately getting pregnant.For most artists and entertainers, the loss of privacy and anonymity is consequential to success, but writers can preserve these things even when they are so famous as to be household names.
How do you use the word consequential in a sentence?
The county was financially ruined by the dam failure and the consequential liability lawsuits. The school was still dealing with redistricting and the consequential increases in enrollment.
What is consequential force?
Consequential force is the force which comes into play as a result of another force acting on an object.
What is consequential?
1 :) xx
What is consequential numbers?
1 :) xx
What are consequential forces?
Frictional force
What rhymes with temperamental?
How about instrumental or consequential
How is a weighted loss ratio calculated?
you add your weighted premiums and divide by your weighted claims. (you do not weight the loss ratios )
What does loss payee means on a home insurance policy?
The loss payee is the person or entity who will be on the claims settlement check.
What does it mean loss history on insurance policy?
Loss history refers to the claims you have had in the past wether on that property or another.
