Difference between revisions of "NAIC.SSAP-55"
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| + | This statement establishes statutory accounting principles for <u>recording liabilities</u> for unpaid losses and loss adjustment expenses for property and casualty insurance contracts. | ||
| + | |||
[https://www.battleacts6us.ca/vanillaforum6us/categories/naic-ssap-55<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>] | [https://www.battleacts6us.ca/vanillaforum6us/categories/naic-ssap-55<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>] | ||
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==Study Tips== | ==Study Tips== | ||
| + | Spend 5 minutes max on this reading. | ||
==BattleTable== | ==BattleTable== | ||
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==In Plain English!== | ==In Plain English!== | ||
| + | |||
| + | Loss Adjustment Expenses (LAE) are classified into '''2 categories''': | ||
| + | |||
| + | * DCC ''(Defence & Cost Containment)'': examples include | ||
| + | : - litigation management | ||
| + | : - rehab nurses | ||
| + | |||
| + | * A&O ''(Adjusting & Other)'': examples include | ||
| + | : - adjuster fees | ||
| + | : - attorney fees | ||
[https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=NAIC&suffix=SSAP-55§ion=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span> | [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=NAIC&suffix=SSAP-55§ion=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span> | ||
Revision as of 20:46, 13 March 2019
This statement establishes statutory accounting principles for recording liabilities for unpaid losses and loss adjustment expenses for property and casualty insurance contracts.
Study Tips
Spend 5 minutes max on this reading.
BattleTable
- this reading has not been tested on any exam from the year 2012 and subsequent
reference part (a) part (b) part (c) part (d) no prior questions
Full BattleQuiz You must be logged in or this will not work.
In Plain English!
Loss Adjustment Expenses (LAE) are classified into 2 categories:
- DCC (Defence & Cost Containment): examples include
- - litigation management
- - rehab nurses
- A&O (Adjusting & Other): examples include
- - adjuster fees
- - attorney fees
Full BattleQuiz You must be logged in or this will not work.
