Staff - AC
About
- Username
- Staff - AC
- Joined
- Visits
- 1,403
- Last Active
- Roles
- Administrator
Comments
-
Yes, correct.
-
Yes, it is prospective, because it commutes anticipated future payments on current liabilities.
-
This is not the "Guaranty Fund" for insolvency. It's a kind of collateral that essentially is not in the possession of the filer yet. Hence the credit risk charge on it.
-
We are discussing, will let you know.
-
If DTA is not given, take it out of the CUCG increment to surplus. If DTA is given, assume that the DTA due to CUCG is included in it, and maybe state this assumption.
-
Agents' balances are written premiums that the insurer/reinsurer is expecting to receive from its agents. It is premium in transit to the insurer. For IRIS 9 , see the answer to this question: https://battleacts6us.ca/vanillaforum6us/discussio…
-
You wouldn't compare the 50M to total incurred for materiality. You'd use reserves, surplus or CY earned premium. They may have used premium to decide that it's material.
-
The Odomirok example has two parts: first, the one that explains how reinsurance helps the leverage ratio; second, the one that shows how the lowered leverage ratio may be illusory in the case of sliding scale commission being used. The regulator…
-
The old Dodd-Frank questions (in red in the Battle Table) are outdated. You are not expected to know this material. It was an oversight on our part. We now explicitly state that they are outdated at the top of the table. Thanks for pointing it ou…
-
Sure, good luck.
-
I mean "claim size buckets." You are extrapolating that both cohorts are bound to have large claims. The research may have compared both the large and the small claims of the two cohorts, and found both types to be of similar size in the two cohorts…
-
Your understanding is correct. Sliding scale is not disclosed in Part 5; only the provisional commission.
-
If you assume that the empirical studies that are referenced compared the size of loss from the two populations in specific strata (rather than comparing the average loss of insureds from the two populations), then the statement makes sense.
-
We are discussing, will let you know.
-
No, peer review of NAIC is not the same as states' duplication. The wiki states this: https://battleacts6us.ca/wiki6us/Vaughan.Crisis#:~:text=(not%20the%20same%20as%20regulatory%20duplication%20by%20state%20regulators)
-
Yes, this would be my interpretation of the text.
-
Section 3 presents the methods that were in use by companies, both for SAP and for GAAP, prior to the titular FASB changes to GAAP. Section 5 presents the two proposed methods to use in order to comply with the changes made to GAAP.
-
Your explanation is correct.
-
That's a typo. It should be TAC/ACL. The ACL = CAL/2 equivalency is used for the Bright Line Indicator test. We will correct it. Thanks.
-
No, agents' balances more than 90 days overdue are non-admitted. Recoverable on paid losses more than 90 days overdue is an amount used in determining the reinsurance provision. Otherwise, it is admitted.
-
The wiki is correct: it is a credit to surplus. The Odomirok text explains "change in net deferred income tax" in terms of "deferred tax asset" (DTA) and "deferred tax liability" (DTL). This items is the change in (DTA less DTL) from point 0 to 1…
-
Sure, good luck.
-
We are discussing this. I will let you know.
-
Items ii and iii are ceded loss reserves, and yes, they both fall into the "reinsurance recoverable on unpaid loss" asset.
-
PR includes and excludes amounts in dispute in various places in the formula. However, it does not address dispute risk, whereas URR offers an entire separate method for treating dispute risk.
-
I believe you're referring to this answer: Partner with private insurers: Profitability – government is not likely to gain any profits. It will subsidize the private insurers so they can charge equitable rates while earning normal level of pro…
-
We are discussing this. I will let you know.
-
This is correct. I see that the Odomirok text doesn't elaborate on this. It would seem to me that you'd want to calc the growth rate on net premium as well. But it's not the case, and you should know to do as you outlined. Net = Direct + Assumed …
-
We are discussing this one. I will let you know.
-
The examiner improvised some terminology there... Generally, "paid/unpaid recoverable" refers to amounts recoverable from the reinsurer on losses paid/unpaid by the primary, and "total recoverable" refers to the sum of the two. Th examiner came up w…