Risk attaching/policies incepting

Is risk attaching basis the same as a policies incepting bases, its just different terminology depending on the insurer/reinsurer. (i.e. risk attaching is the basis used in reinsurance contracts?)

 

Do they use the terminology policies incepting in the notes?

They mean the same thing but you will hear risk attaching more often.

I am not sure I understand what you meant about the insurer/reinsurer bit, I think the term really only applies to reinsurance and not insurance.

Unless you are just saying different people call it different things.

 

Yes policies incepting is in the notes, (wouldn't have heard about it otherwise). That's why i was wondering when i came across the 3 different types of bases reinsurance cover contracts are done on (risk attaching, losses occurring and claims made) that, i was trying to relate them to the other terms I have heard of. When I come across it again, i'll make a note of it and pop it up sometime.