J
jensen
Member
Hello
Can someone please explain the following part of the solution:
"The RITC is premium paid by a syndicate to reinsurer the outstanding liabilities. It is usually paid at the end of 3 years to another party, usually the same syndicate but in the next open year of account."
So, is the RITC paid to the reinsurer or to the same party ie the syndicate? Second sentence seems to contradict the first.
Can someone please explain the following part of the solution:
"The RITC is premium paid by a syndicate to reinsurer the outstanding liabilities. It is usually paid at the end of 3 years to another party, usually the same syndicate but in the next open year of account."
So, is the RITC paid to the reinsurer or to the same party ie the syndicate? Second sentence seems to contradict the first.