pricing: primary vs. reinsurance
DESCRIPTION
Pricing: Primary vs. Reinsurance. Phil Bell, CPCU, ARM, ARe Brenda Gibson Brent Wells. Overview. Premium = ???. Primary Insurance Pricing Liability Workers’ Compensation Property Reinsurance Pricing Various Approaches CRL’s Approach. Auto Liability. Underwriting/Pricing Information. - PowerPoint PPT PresentationTRANSCRIPT
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Pricing:Primary vs. Reinsurance
Phil Bell, CPCU, ARM, AReBrenda Gibson
Brent Wells
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Overview
1. Primary Insurance Pricing
i. Liability
ii. Workers’ Compensation
iii. Property
2. Reinsurance Pricing
i. Various Approaches
ii. CRL’s Approach
Premium = ???
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Auto Liability
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Underwriting/Pricing Information
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Pricing Example
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General Liability
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Underwriting/Pricing Information
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Pricing Example
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Public Officials Liability
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Underwriting/Pricing Information
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Pricing Example
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Law Enforcement Liability
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Underwriting/Pricing Information
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Pricing Example
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Workers’ Compensation
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Underwriting/Pricing Information
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Pricing Example
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Property
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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
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Pricing Example
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Reinsurance
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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)
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CRL’s ApproachA Walkthrough Example