Could you clarify the concept of SIRs recoverable? From what I understand, the SIR is the amount paid by the policyholder before the insurance company responds to a loss. What is there to recover here?
I would assume for example if a SIR of 1M is breached for a claim worth 1.2M. The insurer would be responsible for 0.2M. But if the claim ultimately settles for 0.8M, then there would be 0.2M of recoverable for the insurer
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I would assume for example if a SIR of 1M is breached for a claim worth 1.2M. The insurer would be responsible for 0.2M. But if the claim ultimately settles for 0.8M, then there would be 0.2M of recoverable for the insurer