Chapter 2 Questions Flashcards
why does liability business require more capital than property business
liability claims are more long tail so reserves have to be maintained over a longer amount of time
what two general types of legislation may affect the underwriter
applies generally to insurance practice
specific to a class of business
when looking at the solvency II MCR, how do the requirements differ between europe and the uk
they are effectively subject to the same requirements
Contract certainty within the UK insurance industry is governed by the Contract Certainty Code of Practice. Which body is responsible for this
the london market group
A commercial client is applying for an insurance contract. How, if at all, does the Insurance Act 2015 impact on the application
client has a duty of fair presentation of the risk when applying
