What was the earliest form of reinsurance?
A – Catastrophe excess of loss
B – Facultative
C – Quota share treaty
D – Surplus treaty
B: Facultative reinsurance. The market then developed into areas such as treaty reinsurance.
After an agency relationship ends, what is the correct treatment of information that was confidential during the life of the agency?
A: The information is only confidential while the agency is operational B: The information must remain confidential, even after the agency has ended
A: Earned premium only B: All banked funds plus any payments received awaiting banking
4B: Future loss of earnings is an award made to compensate claimants for the loss of earnings they are likely to sustain going forward after the date of settlement, as a result of their injury. Therefore, the date they start to accrue is the date of settlement or trial date.