katieoc27

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katieoc27
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  • I don't understand how the solution you have presented is accurate. Since some of the premium that is earned in 2017 must be from premiums that were written in 2016, wouldn't you have to consider the CY 2016 written and earned premiums in your calcu…
    in 2019 S 10 Comment by katieoc27 May 2023
  • If the column labeled CY/AY-1 is intended to be the UEP as of CY-1 year-end (and not the UEP for AY-1 as of CY year-end), then I think the labeling needs to be corrected because it is misleading in its current form.
    in Spring 2016 #15 Comment by katieoc27 May 2023
  • Are the count triangles in part 5 gross or net of reinsurance? For example, if the company was in the situation of ceding 100% of the business to a reinsurer, would part 5 show the counts?
    in Schedule P net of reinsurance Comment by katieoc27 April 2023
  • I think I found the answer and it is no - they are not actuarially sound (NFIP typically has to subsidize rebuilding after a flood as rates are generally deficient).
    in Are NFIP rates actuarially sound? Comment by katieoc27 April 2023
  • Ok, that makes sense. So it presents credit risk but not a liability under both SAP and GAAP.
    in 2014.Fall #15, wiki Comment by katieoc27 April 2023
  • Sorry, I was referencing the practice problem that is based on this problem. It shows a net UEP for both CY/AY and CY/AY-1 so I would think those should both be included in the calculation of liabilities for the current year, but it only includes th…
    in Spring 2016 #15 Comment by katieoc27 April 2023
  • I see that SAP does not include unpaid losses underneath the deductible for high deductible policies as a liability (only amounts above the deductible). Does GAAP? Or are these never included on the balance sheet?
    in 2014.Fall #15, wiki Comment by katieoc27 April 2023
  • I think there may be an error in the practice problem for this section that asks you to calculate SAP liabilities. The answer only includes the UEP for the most recent AY, and not AY-1. I believe it should include both, but correct me if I'm wrong.
    in Spring 2016 #15 Comment by katieoc27 April 2023
  • Thanks!
    in Spring 2019 #5 Comment by katieoc27 April 2023
  • Thank you!
    in Schedule P net of reinsurance Comment by katieoc27 April 2023
  • Thank you!
    in Spring 2019, #24, A Change in Tax vs. Tax Paid Comment by katieoc27 April 2023
  • The examiner's report had the formulas for tax due to commutation backwards from the wiki article. The examiner's report formula for primary insurer's tax is tax rate * (commutation price - ceded discounted reserves), but the wiki says it is tax rat…
    in Spring 2019, #24, A Change in Tax vs. Tax Paid Comment by katieoc27 April 2023
  • The review date is typically after the valuation date, and both should be included in the scope.
    in Review Date in SCOPE Comment by katieoc27 April 2023
  • Wouldn't it be 1.5 since the BSF is (weighted # issuers / # issuers) - 1?
    in BSF Comment by katieoc27 April 2023
  • I am struggling with the term "loss reserve development" - shouldn't we be thinking of it as incurred loss development? Loss reserves would develop downwards over time as payments are made.
    in Fall 2018 #17 Comment by katieoc27 April 2023
  • I did the same thing, and wanted to make sure that we weren't supposed to include the liability for other expenses as part of the reserves.
    in Q22 Comment by katieoc27 April 2023