IFoA SA3 Practice Questions - IFoA SA3 General Insurance Specialist Advanced Exam

What is the principal purpose of the Lloyd's Central Fund?

To fund the Corporation of Lloyd's operating expenses To provide reinsurance to syndicates writing catastrophe business To pay valid claims when a member is unable to meet its insurance liabilities To hold members' Funds at Lloyd's deposits

Correct Answer:

To pay valid claims when a member is unable to meet its insurance liabilities

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