SAP Liabilities
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Calculate the SAP liabilities. (Modeled on 2016.Spring #15b) (shout-out to GS!)
This company has been in operation for only 2 years:
→ CY-1 and CY
| item |
CY/AY-1 |
CY/AY |
| unpaid loss: Case direct & assumed |
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| unpaid loss: Case ceded |
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| unpaid loss: Bulk & IBNR direct & assumed |
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| unpaid loss: Bulk & IBNR ceded |
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| unpaid DCC: Case direct & assumed |
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| unpaid DCC: Case ceded |
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| unpaid DCC: Bulk & IBNR direct & assumed |
|
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| unpaid DCC: Bulk & IBNR ceded |
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| unpaid A&O: direct & assumed |
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| unpaid A&O: ceded |
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| anticipated salvage & subrogation |
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| net UEP |
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Step 1
For direct & assumed unpaid loss & DCC:
==> sum(AY-1, AY) for Case, Bulk & IBNR
Step 2
For ceded unpaid loss & DCC:
==> subtract sum(AY-1, AY) for Case, Bulk & IBNR
Step 3
For direct & assumed unpaid A&O:
==> sum(AY-1, AY) for Case only
Step 4
For ceded unpaid A&O:
==> subtract sum(AY-1, AY) for Case only
Step 5
Add current year net UEP
Answer
= (Step 1) – (Step 2) + (Step 3) – (Step 4) + (Step 5)
| Step 1 |
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| Step 2 |
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| Step 3 |
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| Step 4 |
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| Step 5 |
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