Reinsurance’ refers to the practice by insurance companies of:

Buying insurance from another firm

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Insuring the same risk twice

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Issuing new policies

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Renewing existing policies

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Terminating existing policies

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A
Buying insurance from another firm

Reinsurance’ refers to the practice by insurance companies of buying insurance from another firm.

Suggest Corrections

Similar questions

State the types of life insurance policies.

Explain the types of Life Insurance Policies?

Join BYJU'S Learning Program