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Apex Fire enters into a surplus share reinsurance treaty with Geneva Re for fire insurance coverage. Apex Fire has a retention limit of $100,000 and four lines of insurance are ceded to Geneva Re. (8 points, 2 point each) a.A. Dump Inc. owns a building that is insured by Apex for $300,000 of coverage. The premium paid to Apex by A. Dump equals $6000. How much of $6000 premium is ceded to Geneva Re? b.Refer back to 2a. How much of the $6000 premium is held by Apex? c.Refer back to 2a. A. Dump Inc. suffers a $30,000 fire loss covered under the insurance policy. How much will Geneva pay for the fire loss? d.Refer back to 2a. A. Dump Inc. suffers a $30,000 fire loss covered under the insurance policy. How much will Apex pay for the fire loss?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92361149

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