308 ch6 assignment asking
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I want to have some help for my assignment.
This is BUSA 308 Ch6 asssignment of Applica;tion questions.
that which is TEXT Book Principles of Risk Management and Insurance.
When you tutor open the file , the tutor can see Text book name , author and ISBN No.
Text Book: Principles of Risk Management and Insurance 12th edition
Author : Rejda McNamara
ISBN 10: 0-13-299297-6
Ch.6 Insurance Company Operations
Ch.6 Review Questions
1. Delta Insurance is a property insurer that entered into a surplus-share reinsurance treaty with Eversafe Re. Delta has a retention limit of $200,000 on any single building, and up to nine lines of insurance may be ceded to Eversafe Re. A building valued at $1,600,000 is insured with Delta. Shortly after the policy was issued, a severe windstorm caused a $800,000 loss to the building.
a. How much of the loss will Delta Pay?
b. How much of the loss will Eversafe Re pay?
c. What is the maximum amount of insurance that Delta can write on a single building under the reinsurance agreement? Explain your answer.
2. Liability Insurance Co. writes a substantial amount fo commercial liability insurance. A large construction company requests $100 million of Liability insurance to cover its business operations. Liability Insurance has a reinsurance contract with Bermuda Re that enables the coverage to be written immediately. Under the terms of the contract. Liability Insurance pays 25 percent of the lo9sses and retains 25percent of the premium. Bermuda Re pays 75percent of the lo9sses and receives 75 percent of the premium, less a ceding commission that is paid to Labiality Insurance.; Based on the preceding, answer the following questions:
a. . What type of reinsurance cont4ract best describes the reinsurance arrangement that Liability insurance has with Bermuda Re?
b. B. If a $50 million covered loss occurs, how much will Bermuda Re have to pay? Explain your answer,
c. C. Why does Bermuda Re pay a ceding commission to Liability Insurance?
3. Property Insurance Company is a new property insurer. The company is growing rapidly because of a new homeowner policy that combines traditional homeowner coverages with insurance the pay off the mortgage if the insured dies or becomes totally disabled. Premiums written have increased substantially; new agents have been hired; and the company is considering expanding into additional states. However, its growth has been hampered by statutory accounting rules that require and insurer to write off immediately its first –year acquisition expenses but do not allow full recognition of premium income until the policy period has expired. In this case, explain how reinsurance will enable property Insurance to continue to grow in orderly fashions.
4. Felix is a property claims adjustor for a large property insurer. Janet is a policyholder who recently notified the company that the roof of her home incurred substantial damage because of a recent under a standard homeowners policy with no special endorsements. What questions should Felix ask before the claim is approved for payment by his company?
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Solution: 308 ch6 assignment asking