2014.Spring 10 a.
Employee Pension Liabilities falls under what category in C-STORM as the 400 has not been included
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Employee Pension Liabilities falls under what category in C-STORM as the 400 has not been included
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This was a tricky quesiton. Pension liabilities isn't one of the "C-STORM" excluded insurance lines because employee pension liabilities are not reserves on an insurer's balance sheet.
State guaranty funds are designed to protect policyholders (not employees) in the event that an insurance company fails. These funds cover various types of insurance policies, such as life, health, auto, home, and workers' compensation insurance. The purpose is to ensure that claims are paid, up to a certain limit, if the insurance company can't fulfill its obligations.
Pension liabilities, on the other hand, fall under a different category. They are obligations owed to employees in the form of future pension payments.
Thank you for the explanation, makes sense!