NycxBattle
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So the calculation for Excess (Deficiency) is different between CCIR and Runoff. In CCIR excess (deficiency) = (Undiscounted Liabilities for incurred claims at Prior year end) * (Net amount paid during the year for claims and adjustment …
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Thanks @Staff-T1, really appreciate you answering questions on the weekend! Last push for us haha. Also for part B. I just noticed that the first line says "A loss component is evaluated in for the group of contracts below" Since a loss com…
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Hi Micky, These are actually two different concepts. It’s two different parts of the MCT. One is for capital available one is for margin
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No this is correct, incremental is for margin method. You are mixing the two concepts.
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@sofiagiubila But the reason is not due to the 3 periods. Basically its: Let x = future accident date underlying the unexpired coverage relating to 12-month policies Let f(x) = the loss exposure earned on a given future accident date A…
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I see. I briefly read the source text and its basically using integral of x f (X) over integral of f (x) and when there is different valuation date its different. Just to confirm a few things 1) the AAD (Average Accident Date) concept is only ap…
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Your screenshot and my screenshot is pretty much the same thing. In this case the CAS solution is actually the same thing. Because UEP = Premium Received - Insurance Rev + Premium Receivable If you substitute the expression above in your …
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For question 8 did they make a typo? The answer said group 2 combines the old group 3 and 5. Group 3 is the old group 4 since its onerous. But actually Group 5 is onerous and group 4 is non onerous. They meat to say group the old 3 and old 4 t…
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@user1 This is from the reading in "https://battleactsmain.ca/wiki6c/CIA.IFRS17-PAA" For PAA LRC, you don't need to use Premium receivable. This is the whole purpose of using PAA, because its much simpler. You don't have to project your…
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@Staff-T1, are you saving the 0.333 in question 18 is a typo? Can we just use average time of 0.5 to discount for first year and 1.5 to discount fir second year and so on?
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How come in the sample solution, they don't discount the Future Acquisition Cost or DAC? Is it because DAC already happened and cost is paid already so nothing to discount and for the Future acquisition for 2024, we are assuming the cost happens …
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I see get it now thanks! There is two component to the premium. Just a curious question, after the Grid Premium is collected. How does the government use this money?
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Just to confirm. The 100k limit (with indexation) is only for Non - economic damage for AUTO Claims. If it is not an auto claim, there is no limit for non - pecuniary damage?
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Fall 2015 Question 1, sorry I was unclear the name is in the heading of the title. part e) the last part only
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Hi, I want to summarize this case see if my interpretation is correct: 1) Initial ruling is non - pec damage was 460,000 2) It was appealed and reduced to $0, it was the Korn's fault 3) Tried to appealed to SCC but appeal for dismissed. I…
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I see so Alberta is currently Prior Approval. But each individual's PPA is subject to Alberta GRID is a government mandated program and its basically a max CAP that the insurer can charge. This max cap is based on your driving records. Is my inte…
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2017 Spring Question 2 Question: Answer:
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Hi @graham, I meant the answer for this question from examiner report stated: If you give the same answer of 3% it would be wrong now. Based on the source reading: https://www.casact.org/sites/default/files/2021-03/6C_Ontario_Reg_664.pdf …
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Could you briefly explain what Alberta GRID is. I just realized when reading the AB.Auto reading that one of the reform being considered is changing "Prior Approval" to "file and use". But I recalled from this reading that Alberta is Government m…
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The formula for Modified duration is Mac/(1+i) right? So how is that related 100 bps (1%)?
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Thanks
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haha of course I understand that duration is a measure of interest rate sensitivity..... that like the most basic of concepts. What I meant was specifically was why dividing by (1+i) would equate to 100 bps change in interest rate. Dividing by (1…
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For this question, is it possible to use the discount method for part a) Assume the annual yield of 5% is discount rate Or those the word "yield" exclusively mean investment yield?
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Okay I might misunderstanding the concept than. For the RA calculation here, why are we multiplying by the profit margin? I am trying to wrap my head around what it means? I mean I know how to do it mathematically its not too complicated. But I d…
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Are margins always treated as of they year end? What I am really trying to ask, do we always use full year duration when discounting margins?
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In one of the battle card the answer is modified duration is the approximate % change in PV(cash flows) from a 100 bps change in interest rate ASSUMING no change in cash flows Why does the modified duration approximate change % from a 100bps ch…
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Line Item 099 Total Realized Gains (Losses) on Sale Line Item 199 Total Fair Value Gains (Losses) My understanding is that Realized Gains is profit you made from the increased value of your selling you investment. Than what is 199? What is Fair …
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sounds good. I will just state the assumption I am assuming the LC of 20 has not been booked yet to be safe
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for the Hint CREC it for E which stands for EPR, why are we not Earthquake Reserve, but the Earthquake premium reserve? Wouldn't the EQ Reserve be bigger and can absorb more loss?
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Its okay I am good now, thanks!