CII 960 Practice Questions - CII 960 - Advanced Underwriting Exam

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What is the primary risk management objective of establishing maximum line size limits and aggregate exposure caps in property insurance?

To prevent unacceptable accumulation of risk that could impair insurer solvency from severe individual or localized catastrophe losses. To ensure all commercial properties are written on a 100% lead basis without co-insurance. To automatically lower insurance premium taxes paid to HM Revenue & Customs. To eliminate the need for catastrophe modeling software when pricing property risk.

Correct Answer:

To prevent unacceptable accumulation of risk that could impair insurer solvency from severe individual or localized catastrophe losses.

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