IBC 7-9

123456789101112
Across
  1. 2. Underwriters responsible for evaluating individual applicants and policies subject to renewal.
  2. 3. Underwriters: Those responsible for evaluating individual applicants and policies subject to renewal.
  3. 4. is a contract of Insurance whereby one Insurer agrees, for a portion of the premium, to indemnify another Insurer for losses paid by the reinsured under Insurance policies issued by the reinsured to its policyholders.”
  4. 6. is a process by which an Insurance company comes out with a structure that enables it to fix a premium rate for the insured
  5. 8. method Relies heavily on experience and knowledge of an actuary or an underwriter with little or no use of statistics
  6. 9. is a demand by a person or business seeking to recover from an Insurance company, for a loss that covered by the Insurance company
  7. 10. restoration of an Insurance policy after it has lapsed for nonpayment of premiums
  8. 11. rate cancellation: entails a penalty in excess of pro rata for early termination
Down
  1. 1. is the process of selecting policy-holders by recognizing and evaluating hazards, establishing prices and determining policy terms and conditions
  2. 5. extension of the term of coverage of an expired policy, commonly by replacement with another policy effective on the date of expiration of the previous policy.
  3. 7. put price tags on risks. They are basically statisticians who calculate the costs of uncertain future events that range from tornadoes and hurricanes to changes in life expectancy.
  4. 12. the Government and its functionaries can be the official regulators for Insurance business. They are also known as state regulators.