02.04. Policy Analysis

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Author:
COC2
ID:
207111
Filename:
02.04. Policy Analysis
Updated:
2013-03-13 19:06:45
Tags:
Policy Analysis
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Description:
Policy Analysis
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  1. Pre-Loss Policy Analysis
    • mainly scenario analysis
    • insureds: past loss experiece; friends / neighbors, etc can be used as proxy
  2. Limitations of Scenario Analysis
    • impossible to account for every possibility
    • may recognize the possibility of an event but underestimate the extent of potential loss
  3. Post-Loss Policy Analysis - DICE
    • Declarations: determine whether the information provided precludes coverage
    • Insuring Agreement
    • Conditions
    • Exclusions
  4. Amount Payable
    • property insurance: affected by valuation method, policy limits, coinsurance provisions, deductible
    • liability insurance: established by the courts, or a negotiated settlement
    • can also be affected by other insurance

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