C9 Flashcards

1
Q

What is included at board level reporting?

A

Directors are concerned with performance, return on capital, strategy

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2
Q

How often do we report to UW managers?

A

Monthly/quarterly

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3
Q

What are operational level concerned with?

A

The day to day stuff such as customer service etc

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4
Q

What is the claims ratio calculation?

A

Claims divided by premium x 100

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5
Q

What is a policy year

A

For individual policies

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6
Q

What is an underwriting year?

A

Policies grouped based on inception year

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7
Q

What is a calendar year?

A

Claims to tear of loss and premium to premium earned

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8
Q

Accounting year

A

Depends on the company’s financial year

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