- TIA EXAM 5 - FRIEDLAND CH 14

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Author:
CDP
ID:
76484
Filename:
- TIA EXAM 5 - FRIEDLAND CH 14
Updated:
2011-04-01 19:50:27
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TIA EXAM FRIEDLAND
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FRIEDLAND CH 14
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  1. Define Salvage
    amount insurer is able to collect from sale of damaged property acquired when paying insured for total loss
  2. Define Subrogation
    insurer's right to recover the amount of claim payment to a covered insured from third-party responsible for injury or damage
  3. What is the advantage of using ration approach for estimating S&S?
    Development fctors tend not to be as highly leveraged
  4. All of the different types of techniques for estimating unpaid claims can be applied to what claims experience?
    • Gross
    • ceded or
    • net of insurance claims experience
  5. Reinsurance and Aggregate Limits Aggregate or stop-loss coverage
    • Actuary must fully understand how coverage operates
    • Must understand how insurer treats prior recoveries from aggregate coverage in source data
    • Must decide if handle within claim development triangles format later analysis
    • * Typically will use data before stop-loss or agg and make adjustment in final step

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