Formula and range for IRIS 1
GWP / Surplus
<= 900%
Formula and range for IRIS 2
NWP / surplus
<= 300%
Formula and range for IRIS 3
Change NWP / Prior year NWP
[-33% , 33%]
Formula and range for IRIS 4
surplus aid / surplus
surplus aid = ceded commissions / ceded premium * [UEP ceded - ceded to non affiliates]
<15%
Formula and range for IRIS 5
2YR operating ratio
2 year Loss ratio + 2 year expense ratio - 2 year IIR
<100%
Formula and range for IRIS 6
2 X NII earned / denominator
(2% to 5.5%)
Formula and range for IRIS 7
Gross PH surplus change
change surplus / prior year surplus
(-10% to 50%)
Formula and range for IRIS 8
adjusted surplus / prior year surplus
(-10% , 25%)
Formula and range for IRIS 9
adjusted liabilities / liquid assets
<100%
Formula and range for IRIS 10
gross agents balance in collections / surplus
<40%
Formula and range for IRIS 11
1 year loss reserve development / surplus: prior year
<20%
Formula and range for IRIS 12
2 year loss reserve development / surplus: 2nd prior year
<20%
Formula and range for IRIS 13
estimated reserve deficiency / surplus
<25%
Deficiency =
[Nep current * avg [ (reserves last year - devlp last year) / NEP last year ]
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Risk Based Capital34
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IRIS13
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Reviewed - Statement of Actuarial Opinion14
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Reviewed - Schedule P12
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Reviewed - Reinsurance32
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Reviewed - Income Statement12
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Reviewed - GAAP vs SAP13
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Reviewed - IEE16
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Reviewed - Government Insurance22
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Reviewed - Legal stuff and Predictive Analytics12
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Reviewed -Other13
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Reviewed - Solvency9
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Reviewed - Ratings8
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Reviewed Crop and WC7
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Reviewed - Failed exam questions26
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recent exam questions12
