Acronyms Flashcards
1
Q
Risk Management
A
IMC
2
Q
IMC
A
Identify
Measure
Control
3
Q
Identifying The Risk
A
SEFH
4
Q
SEFH
A
Site inspection
Enployee interviews
Financial Analysis
Historical records
5
Q
Funtions of Insurance
A
SSCCEL
6
Q
SSCCEL
A
Spread risk Security Credit Capital Employment Loss prevention
7
Q
Steps in Rate determination
A
CGDDD
8
Q
CGDDD
A
Classify the risk Gather statistics Determine the pure premium Determine the total premium Detetermine the rate
9
Q
Private Insurers
A
CCSIR
10
Q
CCSIR
A
Captives Cooperatives Stock Companies Insurance Pools Reciprocals
11
Q
Insurance Company Organization
A
FAABMUC
12
Q
FAABMUC
A
Finance, Accounting and Investing Administraion Actuarial Branch Operations Marketing Underwriting Claims
13
Q
Agency/Brokerage Agreement
A
PCBPORT
14
Q
PCBPORT
A
Parties to the agreement Class of business to be written Binding authority Premium collection and credits terms Other Remuneration Termination
15
Q
Broker Obligations
A
ACCDNA
16
Q
ACCDNA
A
Avoid negligence Collect and remit premiums Claims notice Do not delegate authority Notification of business written Act within the contract
17
Q
Broker Formations
A
LLGCCSIPFT
18
Q
LLGCCSIPFT
A
Liability Lack of privacy Goverment Control Capital Continuity Skills Initial cost Partner disputes Flexibility Tax advantages
19
Q
Role of Intermediaries
A
PPPTC