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Definition: The maximum amount of risk retained by an insurer per life is called retention. Beyond that, the insurer cedes the excess risk to a reinsurer. The point beyond which the insurer cedes
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What is retained limit?
Retained limit refers to the maximum amount of risk an insurance company is allowed to keep on its books without seeking reinsurance.
Who is required to file retained limit?
Insurance companies are required to file retained limit in compliance with regulations set by the insurance regulatory authority.
How to fill out retained limit?
Retained limit can be filled out by submitting the necessary documents and information related to the insurance company's risk exposure and reinsurance arrangements.
What is the purpose of retained limit?
The purpose of retained limit is to ensure that insurance companies have appropriate risk management practices in place to protect policyholders and maintain financial stability.
What information must be reported on retained limit?
Information such as the total assets, liabilities, premiums written, and claims paid by the insurance company must be reported on retained limit.
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