CIC Insurance Company Operations (A+ Guaranteed)

Describe the ways in which a company may be structured and identify the characteristics of each correct answers 1. Stock Insurance Company • Capitalization - owned by investors - objective to make profit for stockholders • Access to capital markets • Mergers and Acquisitions (M&A) - le...

Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) correct answers 1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance ...

Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. correct answers Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Other...

Strategy --> Strategic Planning --> Strategic Plan correct answers What is the flow of a strategic business plan? Strategy correct answers This is the rough idea. A thoughtful, deliberate plan of action. Answers the question "How" Strategic Planning correct answers Process to determine...

Explain the difference between strategy, strategic planning, and strategic plan correct answers -strategy: thoughtful, deliberate plan of action; chooses to be clear about the company's direction in relation to what is happening in a dynamic environment; answers the question "how?" as in how will...

Describe the Loss Development Factor and explain its use correct answer factors applied to a current valuation of losses to determine an estimate of ultimate losses; these factors are calculated by comparing the period-to-period changes in values of loss reserves, under the assumption that current l...