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Pricing: Primary vs. Reinsurance

This comprehensive guide explores pricing methodologies in primary insurance and reinsurance, including liability, workers' compensation, and property insurance. Learn about various approaches used in underwriting and pricing, with detailed examples for auto liability, general liability, public officials liability, law enforcement liability, and more. Additionally, we cover essential factors in property underwriting, such as occupancy type, construction code, and historical valuation. The document also delves into approaches to reinsurance pricing, such as exposure rating and experience rating, providing a thorough understanding for industry professionals.

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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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