Odomorik 11 Flashcards
1
Q
Two parts of general interrogatories
A
Part 1: Common - general questions applicable to all insurers
Part 2: Specific to type of insurer
2
Q
Common interrogatories sections
A
General Board of Directors Financial Investment other
3
Q
General section of interrogatories
A
Holding company relationships Latest financial exams Excessive commission levels Mergers Suspension of Licenses Foreign Control
4
Q
P&C Interrogatories
A
Exposure to CATs and excessive losses Process to calculate PML Level of reinsurance Exposure to warranty business Finite reinsurance
5
Q
Finite reinsurance
A
Reinsurance that does not transfer UW or timing risk
6
Q
Finite reinsurance interrogatories
A
1) Ceded reinsurance that:
Resulted in UW gain of 5% of surplus
Was accounted for as reinsurance
Duration of at least 2 years and non-cancelable
Abnormal paying terms
2) Ceded premium > 50% of gross premium or at least 25% retroceded back
