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How does entity b account for the insurance contract ceded

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Reference no: EM132756910

Insurance Contracts

73 Entity A, a manufacturing company, obtains insurance against product liability from entity B, an insurance company. Entity B then cedes the insurance contract with entity C, another insurance company.

Problem 1: How does entity B account for the insurance contract ceded to entity C?

a) General model

b) Premium allocation approach

c) Modification to general model for reinsurance contracts held.

d) a or b

Reference no: EM132756910

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