Difference between revisions of "NAIC.SSAP-55"
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Loss Adjustment Expenses (LAE) are classified into '''2 categories''': | Loss Adjustment Expenses (LAE) are classified into '''2 categories''': | ||
| − | * DCC ''(Defence & Cost Containment)'': examples include | + | * DCC ''(Defence & Cost Containment)'': covers defense, litigation, and medical cost containment expenses, whether internal or external and examples include |
: - litigation management | : - litigation management | ||
: - rehab nurses | : - rehab nurses | ||
| − | * A&O ''(Adjusting & Other)'': examples include | + | * A&O ''(Adjusting & Other)'': expenses other than DCC and examples include |
: - adjuster fees | : - adjuster fees | ||
: - attorney 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 13:22, 18 October 2021
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 to Fall 2019 when the exams stopped being published.
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): covers defense, litigation, and medical cost containment expenses, whether internal or external and examples include
- - litigation management
- - rehab nurses
- A&O (Adjusting & Other): expenses other than DCC and examples include
- - adjuster fees
- - attorney fees
Full BattleQuiz You must be logged in or this will not work.
