Phil Bell, CPCU, ARM, ARe Brenda Gibson Brent Wells.

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Presentation transcript:

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 = ???

Auto Liability

Underwriting/Pricing Information

Pricing Example

General Liability

Underwriting/Pricing Information

Pricing Example

Public Officials Liability

Underwriting/Pricing Information

Pricing Example

Law Enforcement Liability

Underwriting/Pricing Information

Pricing Example

Workers’ Compensation

Underwriting/Pricing Information

Pricing Example

Property

Underwriting/Pricing Information Schedule 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

Pricing Example

Reinsurance

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)

CRL’s Approach A Walkthrough Example