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Review of ISOs New ILF Tables June 16, 2000 beyond The Box Thinking Jerome A. Degerness Seminar on Reinsurance Casualty Actuaries in Reinsurance Committee.

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Presentation on theme: "Review of ISOs New ILF Tables June 16, 2000 beyond The Box Thinking Jerome A. Degerness Seminar on Reinsurance Casualty Actuaries in Reinsurance Committee."— Presentation transcript:

1 Review of ISOs New ILF Tables June 16, 2000 beyond The Box Thinking Jerome A. Degerness Seminar on Reinsurance Casualty Actuaries in Reinsurance Committee on Reinsurance Research

2 2 Recent ISO ILF Changes Recent ISO ILF Changes Reinsurance Company Perspective Reinsurance Company Perspective Intermediary Perspective Intermediary Perspective Overview of the Session ISOs New ILF Tables

3 3 Underlying Coverage & Reinsurance Terms Underlying Coverage & Reinsurance Terms Limits Limits Deductibles Deductibles Attachment Points Attachment Points Treatment of ALAE Treatment of ALAE Transition Rules Transition Rules Do limits affect severity? Do limits affect severity? Is ALAE Independent of Policy Limit? Is ALAE Independent of Policy Limit? Intermediary Considerations ISOs New ILF Tables

4 4 Writes high limits and has a high incidence of large losses. Writes high limits and has a high incidence of large losses. Writes high limits, but has a low 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. Plans to write higher limits, has no large loss experience. Buyers Experience - Possible Scenarios ISOs New ILF Tables

5 5 Loss and ALAE Loss and ALAE Limits Limits Subject Premium, lines, etc. Subject Premium, lines, etc. Reinsurance Options to be Considered Reinsurance Options to be Considered Does the company write Excess/Umbrella over its own or other carriers policies? Does the company write Excess/Umbrella over its own or other carriers policies? Experience and Exposure Analysis - Information ISOs New ILF Tables

6 6 Buyers perspective Buyers perspective Reinsurance Company perspective Reinsurance Company perspective Risk Load ISOs New ILF Tables


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