Cook.Personal

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BattleTable

Based on past exams, the main things you need to know (in rough order of importance) are:

• fact 1...
• fact 2...

reference	part (a)	part (b)	part (c)	part (d)
E (2018.Spring #6)	Assigned Risk Plan: - describe ARPs	Joint U/W Associations: - describe JUAs	operational diff of each
E (2018.Spring #8)	see Germani.GovtIns	government participation: - beachfront/windstorm	FAIR plans: - rationale, operation
E (2017.Fall #6)	JUA vs ARP: - loss-sharing, volatility	reinsurance facility: - opns, servicing, profits
E (2017.Spring #6)	rate change disapproved: - insurer actions	impact of disapproval: - on residual market size	residual vs voluntary mkt: - policyholder impact
E (2017.Spring #7)	reducing insurer risk: - coverage restrictions	ARP vs JUA: - risk assignment	see NAIC.Telematics
E (2016.Fall #8)	high-risk driver programs: - characteristics	auto residual market': - describe 1 program	FAIR: - purpose	FAIR: - uninsurable risks
E (2016.Spring #8)	RF vs JUA: - why necessary	RF vs JUA: - profit allocation	residual markets: - why necessary
E (2015.Spring #8)	reinsurance facility: - advantages over ARP	(b) RF vs JUA similarity (c) ARP vs JUA similarity	JUA, RF, ARP - least preferred	(e) state A vs B: res. mkt. (f) state A vs B: insurer actions
E (2014.Spring #8)
E (2013.Fall #10)		assignment of ins in JUA, RF & ARP
E (2012.Fall #13)	AIP vs JUA	argue for a program	argue for a program

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In Plain English!

Alice the Actuary likes to drag race her Lamborghini down the city streets of Miami & L.A. She's a glamtastic adrenaline junkie and she has often told me,

"Live fast, die young, and leave a beautiful corpse."

Unfortunately, that makes it hella hard for her get auto insurance. She's been on the phone for the 60 days begging an agent to give her a policy, but no luck. She has no choice but to go to an Assigned Risk Plan (ARP) also called Auto Insurance Plan (AIP). These plans must all offer policies with the minimum statutory limits, although the particular insurer may offer higher limits if they wish. Alice declines the higher limits. Even the premiums for the minimum limits are steep.

Alice was still a little worried about being rejected by the ARP because she habitually violates the laws (speeding, reckless driving) but she managed to squeak by the underwriter. According to Cook, certain drivers are ineligible, even for the ARP, if:

• they don't have a valid driver's licence
• they have a felony conviction within the past 36 months
• they habitually violate the law    <== that's the one Alice was sweating!

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BattleCodes

Memorize:

Conceptual:

Calculational: