Dang, I think I've come across a contradiction. What am I missing?
SSAP 62 (don't have a copy with me right now) says something like (paragraph 23):
Reinsurance on claims-made policies is prospective reinsurance, as the reporting of the losses is the actual “event.”
While 944-20-15, paragraph 15-34B says:
A claims-made reinsurance contract that reinsures claims asserted to the reinsurer in a future period as a result of insured events that occurred in the past is a retroactive contract.
I could easily see this as a question on the exam. (Is reinsurance on claims-made policies Prospective or Retrospective Reinsurance? Explain.) So, what's the answer? What's the difference?
SSAP 62 (don't have a copy with me right now) says something like (paragraph 23):
Reinsurance on claims-made policies is prospective reinsurance, as the reporting of the losses is the actual “event.”
While 944-20-15, paragraph 15-34B says:
A claims-made reinsurance contract that reinsures claims asserted to the reinsurer in a future period as a result of insured events that occurred in the past is a retroactive contract.
I could easily see this as a question on the exam. (Is reinsurance on claims-made policies Prospective or Retrospective Reinsurance? Explain.) So, what's the answer? What's the difference?
Claims Made: Prospective or Retrospective?
0 commentaires:
Enregistrer un commentaire