What is the main difference between per-occurrence XOL and per-risk XOL reinsurance?
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A
Per-occurrence applies the retention to a single insured risk; per-risk applies it to all losses from one event
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B
Per-risk applies the retention to each individual insured separately; per-occurrence applies it to the total loss from one event affecting multiple insureds
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C
Per-occurrence covers property only; per-risk covers casualty only
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D
Per-risk reinsurance requires facultative negotiation; per-occurrence does not