Difference between revisions of "NAIC.SSAP-55"
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==Study Tips== | ==Study Tips== | ||
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| + | The CAS syllabus citation for this article is confusing. The syllabus says this is a new reading, however, it actually isn't. The year of publication for the manual changes each year but the content of the article does not. | ||
Spend 5 minutes max on this reading. | Spend 5 minutes max on this reading. | ||
Revision as of 22:06, 21 May 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
The CAS syllabus citation for this article is confusing. The syllabus says this is a new reading, however, it actually isn't. The year of publication for the manual changes each year but the content of the article does not.
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
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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
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