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Overview
1. Primary Insurance Pricing
i. Liability
ii. Workers’ Compensation
iii. Property
2. Reinsurance Pricing
i. Various Approaches
ii. CRL’s Approach
Premium = ???
Underwriting/Pricing InformationSchedule Data:- Address- Longitude/Latitude- Insurable Values- Occupancy Type- Construction Code- Year Built- Square Feet- Number of Stories- Sprinkler System- Alarm System- Flood Zone- Roofing Type- Historical Valuation- Renovation Dates
Various Approaches
Exposure Rating- First Loss Scale- Price per Million
+Additional Expenses
- Internal- Retrocessional
- Profit/Contingencies
Experience Rating- Gather Loss Data
- Trend/Develop Losses- Factor for Unused
Exposure
+Additional Expenses
- Internal- Retrocessional
- Profit/Contingencies
Combination (Exposure and
Experience Rating)