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#811




I wonder if I ordered a wrong version of the study kit or something. The numbers like SAL and stuff are different from what TIA is using in problems. Is it justme?

#813




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Also as an aside, umbrella policies have broader coverage than primary policies typically. 
#814




let me ask a stupid question here. umbrella is basically another name for an aggregate loss coverage, correct? Like the insured has paid out a certain cumulative amount out of its pocket for one or many claims. After this point, the aggregate loss coverage will cover whatever the insured has pay.

#817




Again, I have a reinsurance question
Casualty excess of loss  Exposure rating, when ALAE is included with Loss Exposure factor = {E[x;(AP+Lim)/(1+%ALAE)]  E[x;AP/(1+%ALAE)]}/E[x;PL] I don't get why the denominator is E[x;PL] instead of E[x;PL/(1+%ALAE)] ??
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#819




Quote:
Loss only exposure rate is: {E[x;(AP+Lim)]  E[x;AP]}/E[x;PL] Pure perm change from inflation is: {E[x;(AP+Lim)/(1+%ALAE)]  E[x;AP/(1+%ALAE)]} / {E[x;(AP+Lim)]  E[x;AP]} Multiply the two and the {E[x;(AP+Lim)]  E[x;AP]} terms cancel out. E[x;PL/(1+%ALAE)] is never used. 
#820




Quote:
For each claim, Loss + ALAE = (1+ALAE%)*Loss, so now the average payment per loss in the layer is: (1+ALAE%)*{E[x;(AP+Lim)/(1+%ALAE)]  E[x;AP/(1+%ALAE)]}, this would be the numerator of the exposure factor The denominator is simply (1+%ALAE)*E(X;PL] and the term (1+%ALAE) cancels out
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