C9 Flashcards
1
Q
What is included at board level reporting?
A
Directors are concerned with performance, return on capital, strategy
2
Q
How often do we report to UW managers?
A
Monthly/quarterly
3
Q
What are operational level concerned with?
A
The day to day stuff such as customer service etc
4
Q
What is the claims ratio calculation?
A
Claims divided by premium x 100
5
Q
What is a policy year
A
For individual policies
6
Q
What is an underwriting year?
A
Policies grouped based on inception year
7
Q
What is a calendar year?
A
Claims to tear of loss and premium to premium earned
8
Q
Accounting year
A
Depends on the company’s financial year
