Category Archives: N – Kerugian

Nervous shock

Nervous shock is psychiatric illness brought about by witnessing or being involved in a traumatic situation such as an accident. It is necessary, however, to distinguish it from mere mental suffering. In order to be accepted by the courts, the nervous shock must be something much greater than mere mental pain or anxiety

Non proportional

Under non proportional reinsurance, the reinsurer accepts losses in excess of an agreed amount, subject to an upper limit. The bases used are:

-          Excess of loss – this could be on an individual risk basis or on an occurrence basis where the aggregate loss from any one occurrence is reinsured.

Stop loss – where the direct insurers aggregate net losses for a year are reinsured if they exceed a certain amount and/or a proportion of premium income

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