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Sure, good luck.
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Yes, except it is not exactly "AY 2015 1-year loss reserve development." 1-year loss reserve development is for the prior years, and here, prior years is only AY2015. Just semantics. They do it in this roundabout way because of this: "reserve …
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Sch P format is acceptable. But make sure the row and column labels are appropriate for Sch P format.
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Q4 is from Feldblum.Ratings.
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Feldblum.Discount is no longer on the syllabus.
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Sure, good luck.
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Zamisano1, agents balances is not a given. jono1234, we will get back to you on this.
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The same formula applies. Only, you should not include the figures labeled as "Paid by reinsurer" in the formula.
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First, here is my previous schematic, refined: Direct: between insurer and insured Ceded: between insurer and reinsurer, reported by insurer Assumed: between insurer and reinsurer, reported by reinsurer Gross: Direct + Assumed Net: Gross - Ce…
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Sure, good luck.
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Reinsurer Gross Reserve w/o commutation = 1,070,000 X .7 X 1.15 " 15% more than the primary's reserve " It works. But this is specific to this problem: unlikely that you'll see them lined up like this elsewhere.
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Direct: between insurer and insured Ceded: from insurer to reinsurer, reported by insurer Assumed: from insurer to reinsurer, reported by reinsurer Gross: Direct + Assumed Net: Gross - Ceded A Reinsurer has Assumed, not Direct. If it retroced…
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Part b asks for treatment of the appointed actuary of the ****reinsurer****. For the reinsurer, it is assumed.
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That's ok, good luck.
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I also see cats and inadequate capital listed.
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Sure, good luck.
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Here it is again: 1000 X .5 2000 X .5 - 700 1000 X .5
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net paid triangle = direct paid triangle * qs% In commutation, reserves, not paids, are commuted back to the insurer. But the price of the commutation reduces the insurer's paid loss, at the point when it is paid to the insurer. So, net pai…
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Dividend income tax is currently not covered in the syllabus, as per the wiki note here: https://battleacts6us.ca/wiki6us/Odomirok.26-Taxes#Tax-Basis_Income:~:text=2%20practice%20problems%20like%202017.Fall%20%2321%20(2021%2DSpring%20version)
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Yes, the Cash asset is reduced.
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NFIP covers all flood, including storm surge. But wind-driven rain is covered under windstorm, not NFIP. Yes, losses will be separated between flood and windstorm and NFIP and FHCF will kick in respectively.
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The Todds Shipyards case is given as an example to the fact that there are limits to what a state can regulate. In the Alice example, HI gets to regulate everything. In Todds Shipyards, the Supreme Court said that the mere location of the risk…
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Only the current year Ratio 4 determines all adjustments.
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Notice the label "status of reinsurer's payment" in the table. These refer to amounts not yet paid by the reinsurer to the cedent. They are not "unpaid" in the sense of being reserves. If the reinsurer paid the cedent, that amount does not go in the…
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If given payment dates and a discount rate, I would apply discounting, even for the 10-10 rule. 15.S.25a sample answer does not apply discounting, but the report does not say answers that used discounting were not accepted.
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Coinsurance percentage and terrorism certification criteria have changed.
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Could you send me a link to this example for "1 state compliance"?
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This is a realistic scenario of a problem where you may be expected to calc BSF from these givens.
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This is covered in the Vaughan.Crisis wiki section.
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Only the 10-K Loss Development Table was removed. The wiki note says you should not expect questions on this item.