Presentation on theme: "Review of ISO’s New ILF Tables"— Presentation transcript:
1 Review of ISO’s New ILF Tables June 16, 2000beyondThe BoxThinkingJerome A. DegernessSeminar on ReinsuranceCasualty Actuaries in Reinsurance Committee on Reinsurance Research
2 ISO’s New ILF Tables Overview of the Session Recent ISO ILF Changes Reinsurance Company PerspectiveIntermediary Perspective
3 ISO’s New ILF Tables Intermediary Considerations Underlying Coverage & Reinsurance TermsLimitsDeductiblesAttachment PointsTreatment of ALAETransition RulesDo limits affect severity?Is ALAE Independent of Policy Limit?
4 ISO’s New ILF Tables Buyer’s Experience - Possible Scenarios Writes high limits and has a high incidence of large losses.Writes high limits, but has a low incidence of large losses.Plans to write higher limits, has no large loss experience.
5 ISO’s New ILF Tables Experience and Exposure Analysis - Information Loss and ALAELimitsSubject Premium, lines, etc.Reinsurance Options to be ConsideredDoes the company write Excess/Umbrella over its own or other carriers policies?
6 ISO’s New ILF Tables Risk Load Buyer’s perspective Reinsurance Company perspective