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  #21  
Old 12-17-2017, 12:49 PM
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Abelian Grape Abelian Grape is offline
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Originally Posted by Marcie View Post


Twss?

Freudian PhonePost, Sir?


For the non-PC folks:
Spoiler:
"premises"
Doesn’t autocorrect prioritize words that the user types most often?

The plural is what intrigues me.
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  #22  
Old 12-17-2017, 02:09 PM
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PeppermintPatty PeppermintPatty is offline
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Quote:
Originally Posted by Marcie View Post


Twss?

Freudian PhonePost, Sir?


For the non-PC folks:
Spoiler:
"premises"
that's too funny to fix. Thanks for the translation to what I intended, though.
Quote:
Originally Posted by Abelian Grape View Post
Doesn’t autocorrect prioritize words that the user types most often?

The plural is what intrigues me.
I wish it did. My autocorrect has taken to "correcting" my name to some more common string of letters every time I sign an email. Grrrrrrr
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  #23  
Old 12-17-2017, 02:23 PM
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GargoyleWaiting GargoyleWaiting is offline
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This isn't where the value in acquiring runoff P/C businesses usually comes from (it can add a small amount, but the economies of scale isn't really the driver, it's expertise). P/C has lots of value driven by quality of claims management on sophisticated coverage issues - there's very little parallel in the Life space, where you're trying to decide whether coverage applies, what the policy language actually was (completely possible that there is no longer a copy of the policy anywhere, and everybody is just guessing at the language, which will determine whether and how coverage applies), and what limitations determine the payout, how other policies and coverages apply and share in costs. When the company is in runoff, it's a struggle to keep talented claims people (and the people who were handling claims when the policies were written may be retired by now), and if the acquirer has such expertise (companies like Tawa, Enstar, Randall and Quliter, for example - pretty sure there's a sub of Berkshire doing this now too), then that's a big value driver for the acquirer. Claims expertise isn't the only value driver, but is the largest by far in the transactions I've been involved in.
I learned something today! Thanks.
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But the mosquitoes in New Brunswick Bay of Fundy did mess with my understanding of some limited loss functions
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Excel gave me #VALUE.

Edit: Nevermind, I was linking a sumif and didn't open the linked spreadsheet. It is now giving me #N/A.
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  #24  
Old 12-17-2017, 02:55 PM
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...still haven't heard from the OP as to what type of information (more specifically, if not precisely) they are looking for.
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  #25  
Old 12-17-2017, 03:03 PM
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Originally Posted by Westley View Post
"I pretty much know what's going on, since I did something else and am too ignorant to see any differences between what I did and what you're talking about". Never stop lol
I think you missed the part where I specifically said I did not have the expertise to say for sure in the P&C realm.
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  #26  
Old 12-17-2017, 04:00 PM
Westley Westley is offline
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Originally Posted by jas66Kent View Post
I think you missed the part where I specifically said I did not have the expertise to say for sure in the P&C realm.
Didn’t miss that nor the part where you informed us what is “most likely” anyway. Tell us more, we have so much to learn from your lack of expertise.
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  #27  
Old 12-17-2017, 05:01 PM
Arlie_Proctor Arlie_Proctor is offline
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My question would be, "what is the business case for acquiring a run-off management company?" Depending on the answer to that question, the approach to the problem will differ substantially.

- Do you want to better manage your own run-off? If so, you're safer simply adding the right skills rather than acquiring an existing book of liabilities.
- Do you want to acquire new run-off books (and this could be from a liability or claims management standpoint)? It can be done and there are some success stories out there, but you're competing with the reinsurance industry and National Indemnity is pretty darned good at writing adverse development covers and LPTs.
- Do you want to integrate the additional knowledge into your organization?
- Other?
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  #28  
Old 12-17-2017, 10:48 PM
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Originally Posted by PeppermintPatty View Post
that's too funny to fix. Thanks for the translation to what I intended, though.

I wish it did. My autocorrect has taken to "correcting" my name to some more common string of letters every time I sign an email. Grrrrrrr
PeppermintParty, Sir?
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  #29  
Old 12-18-2017, 03:45 AM
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Didn’t miss that nor the part where you informed us what is “most likely” anyway. Tell us more, we have so much to learn from your lack of expertise.
Man, you are cranky these days.
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  #30  
Old 12-18-2017, 08:43 AM
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Quote:
Originally Posted by Colymbosathon ecplecticos View Post
You have no idea how much money has been lost due to this attitude.


Like when the banks wanted to get into insurance under the premise that U/W credit risk is analogous to U/W insurance risk.

Like when health insurers wanted to get into WC insurance under the premise that insuring sick or injured people is the same as insuring sick or injured workers
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