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SETTLEMENT OF CLAIMS Payment of any loss under this Policy shall be settled to the Customer. RAKBANK means The National Bank of Ras Al Khaimah P. S.C. United Arab Emirates 4. SUBROGATION In the event of payment under this Policy the Company shall be subrogated to Customer s rights of recovery. 2. As soon as the Card issuer receives the notice from the Customer the card issuer has to block the card. 9. JURISDICTION This Policy is governed by UAE Law all claims and/or disputes shall be subject...
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How to fill out reinsurance slip

01
Begin by gathering all the necessary information required to fill out the reinsurance slip.
02
Start by entering the name of the reinsured party, along with their contact details.
03
Specify the effective date of the reinsurance agreement.
04
Provide details about the type and nature of the insurance policy being reinsured.
05
Indicate the coverage limits and any specific conditions or endorsements.
06
Include information about the reinsurer, including their name, address, and contact details.
07
Fill in the reinsurance premium amount and any applicable commissions or fees.
08
Specify the period of the reinsurance agreement, such as a one-year term.
09
Include any additional pertinent information or provisions as required.
10
Verify all the entered details for accuracy and completeness before submitting the reinsurance slip.

Who needs reinsurance slip?

01
Insurance companies that want to transfer a portion of their risk to another party.
02
Reinsurance brokers who act as intermediaries between insurance companies and reinsurers.
03
Large corporations or organizations with significant self-insurance programs.
04
Insurance agents or brokers seeking to provide additional coverage options to their clients.
05
Insurance regulators who need to monitor and oversee the reinsurance market.
06
Captives and mutual insurance companies looking to diversify their risk exposures.
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Reinsurance slip is a document that outlines the terms of a reinsurance agreement between the ceding company and the reinsurer.
The ceding company is required to file the reinsurance slip.
The reinsurance slip is typically filled out with details of the reinsurance agreement, including coverage limits, premiums, and deductibles.
The purpose of the reinsurance slip is to document the terms of the reinsurance agreement and provide a record of the coverage provided.
Information such as the ceding company's name, policy number, coverage details, premium amounts, and reinsurer's name must be reported on the reinsurance slip.
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