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F103 - General Insurance

This class was created by Brainscape user Cicelia Barkhuizen. Visit their profile to learn more about the creator.

By: Cicelia Barkhuizen
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Decks in this class (21)

Insurance products: background
For a risk to be insurable 9 1,
O uberrima fides 2,
O underinsurance 3
11  cards
Insurance products – types
Employers liability workers compe...,
Motor third party liability 2,
Marine and aviation liability 3
23  cards
Accounting – Methods and Interpretation
The reserves required for one yea...,
Funded accounting 2,
The main accounting concepts are 5 3
4  cards
Reinsurance products – background
Reasons for purchasing reinsuranc...,
Facultative 2,
Treaty 3
8  cards
Reinsurance products – types
Quota share 1,
Surplus 2,
Excess of loss 3
9  cards
Determining appropriate reinsurance
The main factors determining an i...
1  cards
General insurance markets
Lloyd s 1,
The main reasons for captives inc...,
Protections and indemnity p i clu...
6  cards
The external environment
The external environment 11 1
1  cards
Risk and Uncertainty
The uncertainties face by a gener...,
The elements that contribute to t...,
Uncertainties relating to the cla...
6  cards
Data
O industry wide data collection s...,
Industry wide data collection sch...,
Uses 11 3
7  cards
Actuarial Investigations
There are a number of actuarial i...
1  cards
Reasons for estimating reserves and different reserving bases
There are a number of reasons for...,
Reserving methodologies vary acco...,
When communicating the uncertaint...
3  cards
Best estimate reserves
Best estimate reserves 1,
Stability of the claims developme...,
The statistical methods of estima...
4  cards
Quantifying uncertainty in reserves
Sources of uncertainty 1,
O the terms used to identify the ...,
O stochastic claims reserving can...
13  cards
Assessment of reserving results
Common diagnostics include 7 1,
Two parties may derive different ...
2  cards
Reinsurance reserving
O data can be a problem particula...,
Reserving for inwards reinsurance 2,
Reserving for outwards reinsurance 3
4  cards
Rating methodologies
Summary 14 1
1  cards
Methods of calculating risk premium
Burning cost 1,
Frequency severity 2,
Multivariate analysis including g...
4  cards
Further considerations when rating
The premium actually charged will...,
Practical considerations affectin...,
O requirements of rating factors 3
3  cards
Investment principles and ALM
The risk appetite of the insurer ...,
Assets should match liabilities by 2,
Non investible funds are moneys h...
4  cards
Capital modelling methodologies
Available capital 1,
O there are 2 types of required c...,
Most insurers hold more capital t...
17  cards

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F103 - General Insurance

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