- TIA EXAM 5 - FRIEDLAND CH 04

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Author:
CDP
ID:
66038
Filename:
- TIA EXAM 5 - FRIEDLAND CH 04
Updated:
2011-02-13 13:01:05
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TIA EXAM
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Description:
FRIEDLAND CH 04
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  1. Claims reporting, pmt patterns, frequency & severity can be altered by changes in:
    • 1. Classes of business written or geographical focus
    • 2. Policy provisions (policy limits & deds)
    • 3. Reinsurance (limits & attachment points)
    • 4. Claims management philosophy (occur often with mgmt changes like clm settlement & case reserve)
    • 5. Claim processing lags with new systems
    • 6. Legal & social environment (court back-logs)
    • 7. Economic environment (increase in inflation rate/decrease in interest rate)
  2. Questions for Reinsurance Managers
    • 1. Provide details of reinsurance treaties & agreements, both ceded & assumed
    • 2. Details of ceded treaties
    • *Retention level or QS %
    • *Reinsurers involved incl participation
    • *Details of sliding scale premiums, commission, profit commissions
    • *Any problems/delays in collecting reinsurance
    • 3. Provide details on internal/sister company reinsurance agreements
    • 4. Secured reinsurance program for next year? Term?
  3. Questions for Senior Mgmt - describing company operations
    • 1. Organization chart with recent changes
    • 2. Details of ownership
    • 3. Description of types of business written + special progrms
    • 4. Description of mktg (direct, indep agent)
  4. Ratio of Pd to Rpt
    • Test for chgs in CO adequacy, settlement patterns
    • Downward trend in ratio could be result of
    • Decreasing paid claims
    • Increasing case adequacy
  5. Ratio of closed to rpt clm cnt
    • Measures chg in settlement rate of clms
    • Chgs in ratio could be due to
    • Large caT
    • Chg in guidelines for establishment of a clm
    • Restructuring of clm field offices
    • Introduction of new call center

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