Emma
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Comments
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Problems 2 and 3 on the Excel practice problems (and solutions) still have negative free surplus listed.
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For these problems, the agg insured losses are >37.5B. Does this not affect how we would calculate the answer? We do not have to worry about the 140% surcharge?
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is the 100 billion after the deductible and coinsurance? so the Gov will only pay out max of 100 billion?
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for Excel problem IEE.PL, to get the Pre-Tax profit/loss, we subract the Taxes,Licenses and Fees. Are these taxes that are in TLF not what the 'pre-tax" is referring to?
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Why don't we consider salvage and subrogation in the calculations? (nvm I see there is another thread on this, and there is mention in the examiner's report)
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In the formula sheet, T= Total Unpaid Recoverables, but the Examiner's report includes paid recoverables, as well. Is the formula sheet incorrect? Should it be: Authorised Reinsurer Slow Paying = 20% x max (T+P-C, Pn90 + Pd90)
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The Question Bank version marks only one interpretation correct. The other interpretation gets marked wrong, even though it is technically also correct.
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The calculations question in the Question Bank that is modeled after this is similarly unclear. Perhaps it should be clarified?
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Are Unauthorized reinsurers fairly common? Why would an insurer have a contract with an unauthorized reinsurer if it is illegal?