P&C-1 40.05?

[USTC]

The syllabus refers to 40.05, but the version I just downloaded from the OSFI website doesn't have 40.05 at all. It only has 40.07.

[bananas]

I assumed they meant 40.07 and looked at that - however, they did state on the syllabus update that all pages were relevant for the 2007 uniform annual return. I figure if they test on 40.07 then we'll have a good reason for not knowing it. I didn't find a 40.05 either.

[intelmic]

[rant]

Why is CAS so lazzzzyyy for the Canadian Syllabus!?!

So many mistakes!

-Uniform Annual Return 40.05 is still not changed! (Btw, I've looked at my company's 2007 PC-1 and there is none 40.05!, only 40.07! It was 40.05 back in 2006! 4 years ago... somebody WAKE UP!!)

-The OSFI Memorandum link points to the 2008 version while the syllabus states the 2009 version.

-Groupement des Assureurs: Risk Sharing plan texts are twice on the syllabus.


[/rant]

[Digweed]

I am also annoyed by the lack of update. By the way, 30.40 and 30.45 are the MCT sections right? The P&C-1 version that I have lists MCT sections as 30.70 and 30.71.

Edit: The CSM manual includes Sections 40.07 (Summary of investments) to 40.60 (Insurer incorporated in Quebec). Are they same sections mentioned by the Syllabus as excluded?

[intelmic]

I don't see where you're getting your 30.40 & 30.45 from?

They are no longer PC1. But fyi, back in 2006, they were:

30.40
INSURERS LICENSED IN QUEBEC
COMPUTATION OF MINIMUM EXCESS AMOUNT OF ASSETS OVER LIABILITIES

30.45
INSURERS LICENSED IN QUEBEC
CALCULATION OF REQUIRED MARGIN ON NET UNEARNED PREMIUMS


30.70 & 30.71 are the MCT sheets.

[intelmic]

Originally Posted by Digweed

Edit: The CSM manual includes Sections 40.07 (Summary of investments) to 40.60 (Insurer incorporated in Quebec). Are they same sections mentioned by the Syllabus as excluded?

The Syllabus states pages that are *included*.

40.05 is a mistake, (it no longer exists) and it's now 40.07 which is Summary of Investment. It is included.

All other 40.xx pages are excluded.

[Digweed]

Originally Posted by intelmic

I don't see where you're getting your 30.40 & 30.45 from?

They are no longer PC1. But fyi, back in 2006, they were:

30.40
INSURERS LICENSED IN QUEBEC
COMPUTATION OF MINIMUM EXCESS AMOUNT OF ASSETS OVER LIABILITIES

30.45
INSURERS LICENSED IN QUEBEC
CALCULATION OF REQUIRED MARGIN ON NET UNEARNED PREMIUMS


30.70 & 30.71 are the MCT sheets.

From the syllabus:
Canadian Council of Insurance Regulators, Annual Statement
Instructions P&C-1, Sections I, III, IV, V and VI, excluding
instructions for Annual Return pp. 30.40, 30.45, and 40.07-40.60..

Which are the headings for the excluded sections? I thought 30.40 and 30.45 were MCT b/c CSM skipped MCT.

[intelmic]

Originally Posted by Digweed

From the syllabus:
Canadian Council of Insurance Regulators, Annual Statement
Instructions P&C-1, Sections I, III, IV, V and VI, excluding
instructions for Annual Return pp. 30.40, 30.45, and 40.07-40.60..

Which are the headings for the excluded sections? I thought 30.40 and 30.45 were MCT b/c CSM skipped MCT.

Oh sorry,
I was looking at the actual PC1 citation:

Uniform Annual Return (2008 approved by the Canadian Council
of Insurance Regulators—P&C-1, pp. 10.40-10.42, 10.60, 20.10-
20.52, 30.70-30.71, 40.05, 60.10-60.50, 67.10, 67.20-67.30,
70.10-70.21, 70.38, 80.10-80.20, and 99.10. [Note: Page numbers
refer to the 2007 statement. The Syllabus Update will contain
updated page references for the 2008 statement.]

In this citation, the 40.05 is erroneous and doesn't exist.


But in the CCIR citation, 30.40 & 30.45 are already not in the Instructions. It is not the MCT. In fact, CSM does include MCT instructions but are specifically located in the "MCT Various texts" section.

[Digweed]

Oh..that explains the difference. Should UAR and CCIR Instructions be read together or something? I am reading CCIR along with a blank P&C-1.

Edit: what's a good order to follow for Section D? I am just reading the articles alphabetically right now...

[intelmic]

I'm keeping this for the end, but yeah, I would read both text together.


I tackled section D starting with easy/little CIA texts then OSFI texts.

I'm keeping the hard/massive accounting stuff for the end. (IASA and PC1)