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Banking Sample Paper SBI Clerk Grade (Main) Sample Test Paper-2

  • question_answer
    Situations when the insurance company passes some part of or all risks to another

    A)  Reinsurance

    B)  Double-insurance

    C)  Co-insurance

    D)  Void-insurance

    E)  Dual Insurance

    Correct Answer: A

    Solution :

     Reinsurance - situations when Insurer passes some part of or all risks to another Insurer called Reinsurer. Other important terms are;
    ? Co-insurance: risks shared between insurers
    ? Dual insurance: risks having two or more policies with same coverage
    ? Self-insurance: situations where risk is not transferred to insurance companies and solely retained by the entities or individuals themselves.


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