strategy:? Discuss the advantages and disadvantages to the company of using the following strategy:?
You work for a domestic property insurance company and the managing director has decided that the company should write a large percentage of the total written premium in the market.
The question is part of an exam question which is below if that helps:
ii)
State the five ideal characteristics of an insurable risk. Using these characteristics compare residential and commercial property.
[8 Marks]
iii)
Explain how the level of risk you have discussed in part ii) will be reflected in the pricing and reserving of these policies.
[8 Marks]
iv)
You work for a domestic property insurance company and the managing director has decided that the company should write a large percentage of the total written premium in the market. Discuss the advantages and disadvantages to the company of this strategy.
[8 Marks]
You work for a domestic property insurance company and the managing director has decided that the company should write a large percentage of the total written premium in the market.
The question is part of an exam question which is below if that helps:
ii)
State the five ideal characteristics of an insurable risk. Using these characteristics compare residential and commercial property.
[8 Marks]
iii)
Explain how the level of risk you have discussed in part ii) will be reflected in the pricing and reserving of these policies.
[8 Marks]
iv)
You work for a domestic property insurance company and the managing director has decided that the company should write a large percentage of the total written premium in the market. Discuss the advantages and disadvantages to the company of this strategy.
[8 Marks]