olidude3121
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my question was referring more to the administration side of insurance and less the person actually insuring you. Is there a specific advantage of having your insurance administered by private vs public?
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Hopefully they will! Thanks
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So the "definitions" or liabilitiy captured is the same LIC - unpaid claims on claims incurred @ evaluation date for policies earned LRC - future claims and contract obligations @ evaluation date for policies in-force but not yet earned.
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For this question, how come the calculation for investment income (based on investment yield) is different then the formula used to calculate the investment yield (Net II / cash + bonds (start and end) MINUS Net II)?
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Why isn't a deductible considered a risk limiting feature? Naturally, it seems like one in this case as 2/3 scenarios will have nothing ceded because of this feature.
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No problem thanks a lot !
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Thank you! so LRC is segments and calculated on a calendar year basis, and then aggregated to get the B/S amount?
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@graham why do we not compare the actual % change after re-basing for both proposed and indicated change? In your November 2020 comment, you show the "Actual % Change " after rebasing the proposed but not for the indicated.
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Could this potentially have anything to do with front-end booking of profits?
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Thanks !
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As well, for Question 15, how do we know that the question is asking for the ERC and not the margin for cat-eqk from MCT?
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so two transactions happen if I understand correctly (no matter who initiates/proposes the commutation): 1- The claims / premiums are returned to the insurer 2- The reinsurer pays the PV of unpaid ceded claims + Risk Margin
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But the Directly attributable acquisition expenses also mentions paid at inception?
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Thank you, for the first part, do we not amortize because it is non-directly attributable even though they are paid at inception?
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@graham for the PV f=of cash inflow, since this is a liability account, are they referring to negative IBNR (in current terms) or salvage and subrogation for example as a form of cash inflow in a liability account?
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Will, if I understand correctly, the first formula, definition from CIA IFRS 17 (p. 7) implies that FCF is the cash flow change needed to fulfill the outflow. So by that, if FCF < 0, that means we enough cash inflow to cover the outflow (discount…
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The first was my question actually. Thanks! If that's a pro for being privately administered, what's an advantage of a public insurance creating their own infrastructure?
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Yes that's my understanding as well, it is greater for everyone in the industry if the consensus "bad risks" are pooled together, making them more predictable. (Instead of keeping bad risks, the company pays FARM/RSP losses and those are less volati…
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If the financial results are pooled, how is the residual market different then a risk sharing pool? Is it just that in a RSP the private insurer has the option while in a residual market he is assigned an inusrer?
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Wow I did not see that, thanks a lot, makes a lot more sense now!
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So the runoff exhibit labels the case as ucae?
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Thanks for the clarification
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1 - The question I'm asking refers to the "Shield the tax payer" principle of flood risk management. Why is it beneficial to shield the tax payer as opposed to avoiding cross subsidization. From my understanding, to ensure affordability there's 2 ma…
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Another question, correct me if I'm wrong, but the ceded premium to the pool is Net of acquisition expenses. The acquisition expenses for the premiums are approximated as the ceded premium x Expense allowance. So the Losses on their share of the RSP…
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If this question were to be a ON RSP, would we multiply the companies "share of pooled losses and premium" by 85%. So for part A, would it be 0.85x150/(0.85x750x0.15+Premium Expense Allowance=Premium Ceded x 0.85x Expense allowance %)?
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Can you explain the role Flood Re plays in the UK flood system?