cornedov
About
- Username
- cornedov
- Joined
- Visits
- 286
- Last Active
- Roles
- Member
Comments
-
I have thought about this a bit further an I think (b) is more intuitive when you write it this way: It has 2 components: (1) discounted unpaid at time t-1 (2) discount unpaid at time t + paid claims at time t We can bring (2) back to time…
-
I have a similar confusion as ShimiReen. It is as if the allocation of reinsurance premiums is actually a benefit to the insurer. Even, if you prepay the reinsurance premium and hold an asset, as you amortize the asset wouldn't you decrease your …
-
When answer the question when did the event occur, how come the event in this case is the primary insurer adjusting case reserves and not the late reporting of the claim to the reinsurer? It seems to me the event we are concerned about is the lat…
-
Thanks I think that makes sense! Just to confirm I understand, because FCT is a forward looking report and the goal of FCT is to reflect the position of the entity after the event, we will ALWAYS include subsequent events in our work (because the pu…
-
This event is not a subsequent event and so we would move to the right wing of the decision tree. The first question is if this event were a subsequent event would we include it in the work? If no: No further action If Yes: we ask if the event…
-
Thanks!
-
SCR assets = SCR + best est liab + risk margin I also thought it was equal to SCR at first glance but it is not SCR assets in this case is 5415
-
|For this question would the aggregate deductible of 1M count towards the 2M aggregate limit? Or would the limit not include the deductible? If the former is correct there would be no possibility of loss
-
Higher up HateExams99 gave this example: “Hi @Staff-T1 , in the $1M BI claim case you gave above, does that imply HIGH exit value? (thus low liquidity)” However in battle card #15 they suggest a large portion of inherent value being paid out m…
-
I came across this question and one observation I had was the ELR for MCT should account for the time value of money, while the LC under PAA calculation has a separate discounting adjustment. Section 8.2 in the source says "The ELR would reflect …
-
Conceptually when would there be a negative LRC excl LC under PAA? Is it DAC > premium received? Also what does profit/loss represent here? I understand when there's a LC this is booked immediately in insurance service expenses leading to a lo…
-
For this question is the IFRS 17 term Insurance Revenue and EP is the pre-IFRS17 term? So essentially this is a comparison of how revenue is treated for reinsurance contracts issued before and after IFRS17?
-
Is non-performance risk part of LIC/LRC or is it part of AIC/ARC? I assume if it was part of LIC it would increase LIC where as if it was part of AIC it would reduce AIC.
-
Could you clarify how the concept of contract boundary is different from policy term? I'm not entirely sure I understand what a contract boundary is and how it is set. And is this concept of contract boundary a new concept specific to IFRS17 or did …
-
I though the process was to simulate the natural catastrophe stress test to stress the insurers balance sheet from the first catastrophe event and then add the catastrophe component from the standard BCAR score afterwards which would make the 1 in 1…
-
This solution here talks about independence when setting internal vs supervisory targets. I read through the source and didn't see anything regarding this. Instead it says the internal target should be based on ORSA and should consider risks include…
-
Would this be an appropriate answer to a similar type of question for BCAR and FCT? Under BCAR they simulate the insurers ability to withstand a a second catastrophe event where the first catastrophe event considered is the 1 in 100 PML event. FC…
-
For part C of this question they ask how personal property earthquake exposures would impact the surplus used in the AM Best BCAR score. If we are talking about the stressed BCAR score then the increase in EQ exposures would increase the PML whic…
-
I would think that when establishing a stress testing program there would be a focus on documenting the policies and procedures that govern the program as well as the stress testing methodologies used. I know the examiners report did not seem to acc…
-
I see, are there any other readings that we should leave for later in case the CAS updates them?
-
For part b of this question we want Ins RO NEP which is (UW income + investment income from UW income - capgains)/NEP ROR on the other hand is (UW income + investment income - capgains + income from subsidiaries)/GWP There are no subsidi…
-
This is a separate question but it falls within the same exam question. For Equity YE 2017 I have Equity (X) = Equity (X-1)+ CI(X) where CI(X) = NI(X) +OCI(X). How come they also subtract the OCI from 2016? Is it because this is accumulated OCI that…
-
I see thank you
-
Oops looking back now I misinterpreted the solution being given