Difference between revisions of "NAIC.SSAP-55"
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Revision as of 00:03, 28 October 2020
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): examples include
- - litigation management
- - rehab nurses
- A&O (Adjusting & Other): examples include
- - adjuster fees
- - attorney fees
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