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Pricing: Primary vs. Reinsurance

Pricing: Primary vs. Reinsurance. Phil Bell, CPCU, ARM, ARe Brenda Gibson Brent Wells. Overview. Premium = ???. Primary Insurance Pricing Liability Workers’ Compensation Property Reinsurance Pricing Various Approaches CRL’s Approach. Auto Liability. Underwriting/Pricing Information.

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Pricing: Primary vs. Reinsurance

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  1. Pricing:Primary vs. Reinsurance Phil Bell, CPCU, ARM, ARe Brenda Gibson Brent Wells

  2. Overview Premium = ??? • Primary Insurance Pricing • Liability • Workers’ Compensation • Property • Reinsurance Pricing • Various Approaches • CRL’s Approach

  3. Auto Liability

  4. Underwriting/Pricing Information

  5. Pricing Example

  6. General Liability

  7. Underwriting/Pricing Information

  8. Pricing Example

  9. Public Officials Liability

  10. Underwriting/Pricing Information

  11. Pricing Example

  12. Law Enforcement Liability

  13. Underwriting/Pricing Information

  14. Pricing Example

  15. Workers’ Compensation

  16. Underwriting/Pricing Information

  17. Pricing Example

  18. Property

  19. Underwriting/Pricing Information • Schedule 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

  20. Pricing Example

  21. Reinsurance

  22. 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)

  23. CRL’s Approach A Walkthrough Example

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