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安裝中文字典英文字典辭典工具!
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- Chapter 9
* Agenda Principle of Indemnity Principle of Insurable Interest Principle of Subrogation Principle of Utmost Good Faith Requirements of an Insurance Contract Distinct Legal Characteristics of Insurance Contracts Law and the Insurance Agent Principle of Indemnity The insurer agrees to pay no more than the actual amount of the loss Purpose: To prevent the insured from profiting from a loss To
- Surplus Lines Requirements
AS 21 34 020 Coverage may be placed in surplus lines IF The insurer is an eligible surplus lines insurer The full amount, kind, or class of insurance cannot be obtained from insurers who are admitted to do business in this state The producing broker has conducted and documented a diligent search The director has authorized an exception from 2
- AFH INSURANCE
Risk retention groups are mutual companies, mean they are own by the members of the group They can be licensed as a standard mutual insurer, but they can also be licensed as a captive insurer, which is company organized by a parent company specifically to offer provide insurance coverage the parent company
- Slide 1
Is a contract whereby the insurer (company) undertakes, in return for the payment of a premium, to cover the losses suffered by the insured (person or business) as a result of a specific event
- PowerPoint Presentation
3 Insurer decides on structure they want to purchase and broker obtains price quotes from reinsurers for the structure 4 5 Based on range of quotes from reinsurers, insurer decides to issue “Firm Order Terms” for final price
- 16:9 presentation
The insurer can take credit for diversification between lines of business and risk types Solvency II Equivalence Solvency II equivalence for third countries means a non-EU jurisdiction has an insurance regulatory regime that achieves the same outcomes as those determined under the Solvency II framework
- PowerPoint Presentation
Safety for risk reduction Lack of adherence to safety–root cause of most accidents Adherence to safety – A ‘win-win’ for both insurer and insured Losses arising due to Fire, Lightning, Explosion, Riot Strike and Malicious Damage, Damage by Terrorist activities, Impact Damage
- INTODUCTION TO REINSURANCE - Casualty Actuarial Society
INSURANCE The insurer insures the individual or the corporation REINSURANCE The REINSURER insures the insurance company REINSURANCE PLACEMENT MECHANISMS DIRECT BROKER INSURANCE vs REINSURANCE BOTH concerned with future contingencies BOTH require underwriting skills (risk) BOTH involve transfer of risk BOTH require payment of premium BOTH
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