CPCU Chapter 8 (SR)

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Across
  1. 4. Reinsurance that transfers to the reinsurer liability for an entire type of insurance, territory, or book of business after the primary insurer has issued the policies.
  2. 9. A quota share reinsurance treaty in which the cession percentage retention varies based on specified predetermined criteria such as the amount of insurance needed.
  3. 11. A type of pro rata reinsurance in which the policies covered are those whose amount of insurance exceeds a stipulated dollar amount, or line.
  4. 12. A type of unsecured debt instrument, issued only by insurers, that has characteristics of both conventional equity and debt securities and is classified as policyholders’ surplus rather than as a liability on the insurer’s statutory balance sheet.
  5. 13. A reinsurance association that consists of several unrelated insurers or reinsurers that have joined to insure risks the individual members are unwilling to individually insure.
  6. 14. The price at which the stock or commodity underlying a call option (such as a warrant) or a put option can be purchased (called) or sold (put) during a specified period.
  7. 16. A replenishment of policyholders’ surplus provided by the ceding commission paid to the primary insurer by the reinsurer.
  8. 17. A financial market in which long-term securities are traded.
  9. 18. A group of insurers or reinsurers involved in joint underwriting to insure major risks that are beyond the capacity of a single insurer or reinsurer; each syndicate member accepts predetermined shares of premiums, losses, expenses, and profits.
  10. 19. A reinsurance agreement whereby one reinsurer (the retrocedent) transfers all or part of the reinsurance risk it has assumed or will assume to another reinsurer (the retrocessionaire).
  11. 20. The maximum amount of insurance or limit of liability that an insurer will accept on a single loss exposure.
  12. 21. The dollar amount above which the reinsurer responds to losses.
Down
  1. 1. A type of pro rata reinsurance in which the primary insurer and the reinsurer share the amounts of insurance, policy premiums, and losses (including loss adjustment expenses) using a fixed percentage.
  2. 2. A type of reinsurance in which the primary insurer and reinsurer proportionately share the amounts of insurance, policy premiums, and losses (including loss adjustment expenses).
  3. 3. The premium the primary insurer charges on its underlying policies and to which a rate is applied to determine the reinsurance premium.
  4. 5. The maximum amount that the reinsurer will pay for a claim and that is commonly stated in the reinsurance agreement.
  5. 6. The reinsurer that transfers or cedes all or part of the insurance risk it has assumed to another reinsurer.
  6. 7. The insurer that assumes some or all of the potential costs of insured loss exposures of the primary insurer in a reinsurance contractual agreement.
  7. 8. The amount retained by the primary insurer in the reinsurance transaction.
  8. 10. The reinsurer that assumes all or part of the reinsurance risk accepted by another reinsurer.
  9. 15. An organization of member companies that reinsure by fixed percentage the total amount of insurance appearing on policies issued by the organization.