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Can a reinsruance contract include prospective and retroactive reinsurance?
Answer: Reinsurance contracts may include both prospective & retroactive provisions.
Eg:
-The contract may cover losses from policies written both in prior years, and future years.
-Reinsurance may be acquired after the primary policy has been written, but before the end of the coverage period, and made effective as of the beginning of the contract period.
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