Q. Which method can be used to estimate outstanding claims if renewal statistics information is provided?

View solution

Q. What does IBNR stand for in the context of estimating outstanding claims?

View solution

Q. Why is it important to combine different methods and maintain consistency in making provisions for outstanding losses?

View solution

Q. What is the purpose of making an additional provision for claims incurred but not reported (IBNR)?

View solution

Q. What is the primary purpose of controlling accumulation hazards in reinsurance?

View solution

Q. What is the role of underwriters in controlling accumulation hazards?

View solution

Q. How is the magnitude of an earthquake measured?

View solution

Q. What does the Modified Mercalli Scale measure?

View solution

Q. What are some factors that influence the effect of an earthquake on a structure?

View solution

Q. Which of the following regions are highly exposed to earthquakes?

View solution

Q. How can underwriters determine the zones that may be affected by earthquake damage?

View solution

Q. What is the purpose of maintaining accumulation control sheets?

View solution

Q. Which regions are prone to volcanic eruptions?

View solution

Q. What approach should underwriters take to accumulations arising from catastrophic perils?

View solution

Q. Why do ceding insurers and reinsurers need periodical statistics of their business?

View solution

Q. What is the purpose of establishing a decision support system in reinsurance?

View solution

Q. Which of the following factors can affect underlying statistical trends in reinsurance?

View solution

Q. Who are the users of the information produced from a statistical base in insurance and reinsurance organizations?

View solution

Q. What are some of the uses of the information produced from a statistical base in insurance and reinsurance?

View solution

Q. What is the purpose of reconciling balances and reviewing cash flow in the context of evolving a statistical system?

View solution