NAIC.SSAP-55

This statement establishes statutory accounting principles for recording liabilities for unpaid losses and loss adjustment expenses for property and casualty insurance contracts.

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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

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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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