Section G Regulation of Insurance: AAA Retained Risk Flashcards
1
Q
List six methods to transfer risk:
A
- Guaranteed cost policies
- Retrospectively rated policies
- Large Deductible policies
- Self-Insurance
- Claims Made coverage
- Captives
2
Q
Key characteristics of GC policies:
A
3
Q
Final cost for GC policy=
A
Audited premium + Losses within deductible layer
4
Q
List key characteristics of Retrospectively rated policy
A
5
Q
List key characteristics of Large Deductible policies
A
6
Q
Large Deductible policy Final Cost =
A
final premium + losses within deductible + possible claims handling costs
7
Q
Key characteristics of Self Insurance
A
8
Q
Key characteristics of Claims Made coverage
A
9
Q
Key characteristics of Captives:
A
10
Q
Three possible structures for Captives
A
11
Q
In which three contexts can a retained risk actuarial analysis be used
A
12
Q
Two categories of payments that a company may need to accrue for in addition to losses:
A
