Insurance

Contract allows the policyowner to receive a share of surplus in the form of policy dividends

What participating life insurance policy?

Losses due to fraud are eliminated

Which of the following is NOT a benefit of insurance?

Reinsurance

Which of the following is a type of insurance where an insurer transfers loss exposures from policies written for its insureds?

Captive insurer

Which of the following is an insurer established by a parent company for the purpose of insuring the parent company's loss exposures?

Primary insurer

AAA Insurance Company has transferred a portion of its loss exposure to BBB Insurance Company. In this reinsurance transaction, what is AAA Insurance Company called?

Marketing

One important function of an insurance company is to identify and sell to potential customers. Which of these BEST describes this function?

Demutualization

When a mutual insurer becomes a stock company, the process is called

Reserves

An insurer enters into a contract with a third party to insure itself against losses from insurance policies it issues. What is this agreement called?

Reserves

An insurer enters into a contract with a third party to insure itself against losses issues from insurance policies it issues What is the agreemrnt called?

mutual insurer

An insurer owned by its policyholders is called a