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Moving to another question will save this response Questions 2 points Liability insurance Company (LIC) write a substantial amount of commercial ability insur Alarge construction company requests 5100 milion of ability insurance cover its business operations. I has a quota share treaty reinsurance contract with Bermuda He that enables the coverapt to be written immediately. Under the terms of the contractions and premium are shared on a sp UC retains of the premium and pays of the loss The policy premium is $2,000,000. The ceding commission is $100,000. LIC willen of the premium while bermuda will retains Be sure to properly account for the coding commission in your responses in the event of a 5800,000 covered loss, would pay of the loss weermuda would pays IMPORTANT: Your answers should be rounded to the nearest integer and should NOT include symbols Question of 200 A Moving to another question will save the response Question 8 2 points Liability insurance Company I writes a substantial amount of commercial liability insurance. A large construction company requests 5100 million of ability insurance to cover its business operations. Chas a quota share treaty reinsurance contract with Bermuda Re that enables the coverage to be written immediately. Under the terms of the contract, losses and premium are shared on a 40-60 split Lic retains of the premium and pays 40 of the loss The policy premium is 32.000.000. The coding commission is $100.000 tic will retain of the premium while Bermuda wiretains le sure to properly account for the ceding commission in your responses In the event of a $800,000 covered loss, I would pays of the loss while Bermuda Re would pay 5 IMPORTANT: Your awers should be rounded to the nearest integer and should NOT include symbol (o Question of 20 Miving to another question will save this response BI 1941 PM 126/2021 Moving to another question will save this response Question 8 of 20 Question 8 2 points Liability Insurance Company (LIC) writes a substantial amount of commercial liability insurance. A large construction company requests $100 million of liability insurance to cover its business operations. LC has a quota-share treaty reinsurance contract with Bermuda Re that enables the coverage to be written immediately. Under the terms of the contract losses and premium are shared on a 40-60 split UC retains 40% of the premium and pays 60% of the loss The policy premium is $2,000,000. The ceding commission is $100,000. LIC will retains of the premium while Bermuda will retains Be sure to properly account for the ceding commission in your responses In the event of a $800.000 covered loss, Lc would pay of the loss while Bermuda He would pays IMPORTANT: Your answers should be rounded to the nearest Integer and should NOT include symbols (5) Moving to another question will save this response writion 8 of 20 O i a E 11:20 1/29/200 vo 144 & 7 00 9