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