peteabbate
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It's within the Holding Company example on pg 253. This chapter is definitely a sprawling mess! Recall that the book/adjusted carrying value is used in computing the R0 charge. The carrying value of an indirectly owned insurance subsidiary wil…
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I was having trouble making sense of the inequality, and it helped to re-read the R4 discussion from the source. Specifically this statement was key: The reserve RBC limitation is put in place so the insurance company cannot diversify away a p…
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One thing in the source text that isn't mentioned in the Wiki is the rationale for this formula. It's actually straightforward from what I can tell - The carrying value of the holding company is part of the R0 charge, so RBC incorporates the value i…
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More reasons for insolvency with the same theme: Catastrophe Reinsurer insolvency Asbestos Poor investment results I wrote these in my notes after reviewing accepted answers to 2019.Spring #3 and 2016.Fall #3.
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Adding on - In the current Vaughan reading (page 10), Peer Review/Peer Pressure are listed as a single subsection. In previous exams, Peer Review and Peer Pressure are accepted as separate answers. Did the 2019 update to the Vaughan reading combine …
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Thanks, Graham, for the related question and the clarification about data vs. date. This morning I worked on Fall 2014, question 23.b, and noticed that the Examiner's Report did expect exam takers to make up reasons why there was adverse developm…
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The examiner's report for this question lists the following argument against: Short-tail lines may require more surplus At the risk of sounding dumb, isn't it the long-tail lines that require more surplus?
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Thanks, Graham!