CIA Disclosure Flashcards

1
Q

Broad areas of disclosure. (4)

A

PRINCIPLES: significant accounting principles
ESTIMATES: critical account estimates/judgements
RISK: management of insurance and financial risk
LIABILITIES: insurance liabilities and reinsurance assets

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2
Q

Considerations in determining concentration risk. (4)

A
  • by LOB (more is better)
  • by province (geographical diversification is better)
  • reinsurance (multiple sources is better)
  • U/W limit (lower is better)
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3
Q

Describe the requirements regarding disclosure of concentration risk. (2)

A
  • how management DETERMINED the concentration

- description of shared characteristics that IDENTIFIED each concentration

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4
Q

Identify 2 pieces of info that can be used to respond to requirements for disclosure of concentration risk.

A

Data by LOB or geographical region (premiums, exposures, …).

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