CIA Runoff Flashcards

1
Q

CIA Runoff - Methods of deriving undiscounted runoff

A

compare ultimate incurred amounts at successive valuation points; use amounts paid during CY plus change in amount outstanding

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2
Q

CIA Runoff - How to calculate discounted runoff

A

discount paid and change in outstanding to beginning of year; or subtract provision for investment income earned during the year on assets supporting liabilities

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3
Q

CIA Runoff - Calculate investment income on assets supporting policy liabilities

A

yield rate mulitillied by avg of starting and end values of: net unpaid claims, net unearned premium, minus gross DPAC, premium deficiency, unearned commission, minus agents and brokers receivables, minus installment premiums

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