1 / 12

Comprehensive Overview of RSUI Group's Umbrella Liability and Insurance Practices

The RSUI Group's 2006 Book of Business details critical insights into their umbrella liability management, including binding authority, general and professional liability, and property insurance. It emphasizes significant reinsurance strategies, tiered coverage options, and pricing factors for clients in major states such as California, Texas, and New York. Key metrics on claims patterns, exposure changes, and industry trends provide a solid foundation for understanding how RSUI Group navigates the insurance landscape while maintaining efficient risk management.

lore
Télécharger la présentation

Comprehensive Overview of RSUI Group's Umbrella Liability and Insurance Practices

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Umbrella Liability CAReMay 7 – 8, 2007 Stephen Kantor

  2. RSUI Group, Inc.2006 Book of Business • Binding Authority • D & O • General Liability • Professional Liability • Property • Umbrella

  3. RSUI Group, Inc.2006 Book of Business Largest States • California • Texas • Illinois • New York • Florida

  4. RSUI Group, Inc.2006 Umbrella Book of Business • Significant Reinsurance on Umbrella • Mostly Treaty, Limited Facultative • 5 – 10% is “Supported” Business

  5. RSUI Group, Inc. 2006 Umbrella Book of Business • Excess • Higher Limit • Higher Attachment Point • Umbrella • Filed Form • Highest Average Premium • Lead Excess • Follows Underlying

  6. RSUI Group, Inc.Price Monitor Rate Change Factors • Underlying GL Limit • Underlying Auto Limit • Insured GL Limit • Insured Auto Limit • GL Exposure • # Insured Autos

  7. RSUI Group, Inc.Price Monitor (ILF[U+L] – ILF[U]) current Limit Change = (ILF[U+L] – ILF[U])expiring = Difference in Limits (DIL) Exposure Change = k (GL Exp Chg) + (1-k) (Auto Exp Chg) k Depends on the Number of Autos

  8. RSUI Group, Inc.Price Monitor Premium Change Rate Change = (Exposure Change x DIL Change)

  9. RSUI Group, Inc.Price Monitor – Layer Pricing $4M xs $1M compared to $1M $5M xs $5M compared to $4M xs $1M $10M xs $10M compared to $5M xs $5M $1st Million is Higher of Actual and ISO Manual ALWAYS rate the Primary!

  10. RSUI Group, Inc.Tidbits • Majority of Reported Claims Close Without Payment • Reported Claims during 2006 by AY 1990 - 1995 95 New Reports • Expected Reporting Patterns Paid Incurred Claims Year 1 0% 6% 17% Year 2 7% 22% 37% Year 3 24% 44% 52% Year 10 95% 98% 86%

  11. RSUI Group, Inc.Slices and Dices • By Policy Type • By Limit • By Hazard Grade • By SIC • By Claim Type • Large Losses • Excluding Nursing Homes

  12. RSUI Group, Inc.Managing IBNR • Peg Loss Ratio • IBNR = (Peg x EP) - Reported Loss • Revise when • Reported Loss Above Loss Peg • Certain Number of Years Past AND • Open Claims / Reported Claims < X% OR • Paid / Incurred > Y% • Consideration – Does Sarbanes-Oxley Change Everything?

More Related