Personal Lines
Fundamentals
Fundamentals
Protects individuals and their families from losses they could not afford to cover on their own.
What is Personal Lines?
Protects a company’s physical location and business property.
What is Commercial (Business) Property Insurance?
Commercial (individual & employer), Medicare Advantage, Medicaid Managed Care, Dental, Vision, Employee Group Life/Disability, Long Term Care, Supplemental
What are Health Insurance Products?
A force or influence that inhibits progress in Life & Annuity is COVID-19 cases and death claims.
What is a headwind?
What is our founder's middle name?
Auto, Homeowners, Umbrella
What are major Personal Lines of Business?
Investment quality and performance, and actuarial reserve adequacy.
What are key factors to US Commercial Insurers' balance sheet strength and operating performance?
Publicly Traded Insurers
Private Insurers
Provider Owned Plans
Profit and Non-Profit
What are types of Health Insurers?
Managed growth; strategic acquisitions; earnings must be sustainable.
How do we evaluate operating performance?
1905
When did we develop the first insurance company credit ratings?
How old the the house is, how old roof is, and whether or not there's a mortgage on the house.
What are some rating factors for Homeowners Insurance?
These products may be referred to as “Third party” or “Casualty” coverages.
What are commercial lines coverages that protect businesses from loss when they cause injury or damage to other parties or their property?
(General Liability, Workers’ Compensation, Commercial Auto Liability, Professional Liability, Directors’ & Officers’ Liability)
Metrics can measure volatility, and impact on operating performance and balance sheet strength.
What is Health Company Benchmarking?
Capital that is set aside to cover an insurer from unexpected credit related losses.
What is the Asset Valuation Reserve?
Current Global Headquarters
What is Oldwick, New Jersey?
(Circa 1974)
Tree hits a car; car hits a tree.
What is Auto Comprehensive Coverage vs Auto Collision Coverage?
These coverages are sometimes referred to as “First party” or “Property” coverages.
What are direct losses like theft, fire, business interruption, or damage to a company owned vehicle?
Health Key Metrics
What are BCAR & BCAR trends, underwriting, and quality of capital & assets?
An annuity that uses a stock market index to determine gains and losses; the owner has the ability to set the maximum loss they're willing to tolerate.
What is a Registered Index Linked Annuity (RILA)?
In 1984 this online access platform was introduced.
What is BestLink?
This drives up higher loss costs as insurance companies are paying more for claims; causing adverse reserve development which we do not view as favorable.
What is inflation?
In-depth reports at various levels of Commercial Lines.
What are AMB Sector Outlooks?
Both of these should be considered before formalizing the overall Enterprise Risk Management Assessment.
What are the ERM Framework Evaluation and the Risk Evaluation?
This is the primary vehicle to transfer risk, it provides capacity for new business, and can enhance company earnings.
What is Life Reinsurance?
A forum where insurance industry leaders address key issues and trends.
What is the Review & Preview Conference?