Reinsurance Quiz

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Some of the questions of the following quiz relate to the reinsurance company hannover re, but not all. Those that do concern HR’s specific company culture.


General knowledge Reinsurance and Hannover Re

1. There are two major reinsurance segments ______________________________ and ______________________________.

2. Which of the following statements about property and casualty insurance are true?

a) Casualty insurance protects against loss of physical items
b) Casualty insurance is a third party insurance
c) Property insurance provides protection against the claims of others
d) Property insurance is a first party insurance
e) Casualty insurance is a first party insurance
f) Property insurance provides protection for insured’s own property
g) Casualty insurance protects against legal liability
h) Casualty insurance protects against the claims of others
i) Coverage against business interruption is a form of property insurance

3. How many TADs does Hannover Re have? Name them. Which one is responsible for  Life and Health?

4. How are the treaty divisions organized?

j) by geographical region
k) by importance of business
l) by business lines
m) by number of treaties

5. How is RD 8 different from other treaty divisions?

6. Which of the following statements are true?

a) The TADs work closely together with the treaty departments.
b) The TADS are responsible for cash payments to cedents.
c) Corporate accounting consolidates numbers for balance sheet (Germany).
d) Claims Counsels belong to FA.
e) FA is the smallest division of Hannover Re.
f) Corporate accounting checks claims.
g) Current accounting is responsible for incoming/outgoing cash.

7. What is the combined ratio a combination of?

8. What does a combined ration of 100% indicate?

9. Is a combined ration of 95% a positive or negative result for the company?

10. What are important functions of Group Risk Management?

a) reporting of group results
b) modelling of risks
c) reserving
d) monitoring and checking of efficiency of work flow processes

11. Name three underwriting risks:
a) ___________________________________
b) ___________________________________
c) ___________________________________

12. Give an example for risk of random loss.

13. Name the largest major loss since 1970 (as of 2011).

14. What is an emerging risk and what makes it different from ‘normal’ risks? Give two examples.

Extras
15. Company culture

a) What is the name of Hannover re’s dragon boat?
b) What’s the name of HR’s gym partner?
c) What exhibition can you currently see at Karl-Wiechert Allee 57?
d) What do see when you arrive on the fourth floor, area entrance south, coming up the stairs looking to your left?

 

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