Draw the Reinsurance/Insurance Channel of Distribution (Professor’s flipchart page on wall) and be sure to DEFINE allthe parties and components to the process. Use the terms we use in class. Define: a) Reinsurance; b) Treaty; c) Facultative; d) Quota-Share; e) Excess of Loss. What are the 6 Reinsurance Functions for a Primary Insurer? Define: a) Insurance Risk; b) Indemnify; c) Reinsurer; d) Ceding Company; e) Reinsurance Intermediary; f) Retention; g) Attachment Point; h) Retrocession. What are the four factors when selecting a Retention? Provide an actualexample of how Quota Share Reinsurance operates-draw an exhibit and be specific in your explanation. Provide an actual example of how Excess of Loss operates—draw an exhibit and be specific in your explanation. Define: a) Direct-Writing; b) Reinsurance Intermediary; c) Broker of Record; d) ‘Follow the Fortu nes! Outline and define each step in a formation of a typical Reinsurance agreement from
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