Chapter 8 Flashcards
(3 cards)
1
Q
List and define all the GI products
A
Liability products: PEPMP
Property: RMCMLA
Financial loss: PFCB
Fixed benefits: UHP
2
Q
What general reserves are held for GI products?
A
UPR
IBNR
OCR
Unexpected risk reserves
Cat reserve
Claims handling
Smaller size for short tail
3
Q
What general reserves are held for life insurance products?
A
Bonus reserve
IBNR
UPR
Claims
Surrender
Expense
