Phil Bell, CPCU, ARM, ARe Brenda Gibson Brent Wells.
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Transcript of Phil Bell, CPCU, ARM, ARe Brenda Gibson Brent Wells.
Overview
1. Primary Insurance Pricing
i. Liability
ii. Workers’ Compensation
iii. Property
2. Reinsurance Pricing
i. Various Approaches
ii. CRL’s Approach
Premium = ???
Underwriting/Pricing InformationSchedule Data:- Address- Longitude/Latitude- Insurable Values- Occupancy Type- Construction Code- Year Built- Square Feet- Number of Stories- Sprinkler System- Alarm System- Flood Zone- Roofing Type- Historical Valuation- Renovation Dates
Various Approaches
Exposure Rating- First Loss Scale- Price per Million
+Additional Expenses
- Internal- Retrocessional
- Profit/Contingencies
Experience Rating- Gather Loss Data
- Trend/Develop Losses- Factor for Unused
Exposure
+Additional Expenses
- Internal- Retrocessional
- Profit/Contingencies
Combination (Exposure and
Experience Rating)