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Underwriting Not By the Book

Underwriting Not By the Book. Metropolitan Underwriting Discussion January 2012. Gene Lunman - Metlife William E. Moore – Swis s Re America Holding Corporation. Treaty Language. Clerical E & O Underwriting error Material – Not material Large amount – small amount Pattern of behavior

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Underwriting Not By the Book

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  1. Underwriting Not By the Book Metropolitan Underwriting DiscussionJanuary 2012 Gene Lunman - MetlifeWilliam E. Moore – Swiss Re America Holding Corporation

  2. Treaty Language • Clerical E & O • Underwriting error • Material – Not material • Large amount – small amount • Pattern of behavior • Expected number of exceptions

  3. Underwriting Audits • Scope • Frequency • Competitors audits • Bias – Non bias • Standards – clients vs. reinsurers • Random sampling vs. targeted sampling • Old age • Substandard • Large face amount • Number and type of exceptions • Acceptable vs. not acceptable • Resolution • Reprice • Ignore • Give back

  4. Case Underwriting • Exceptions to standard and substandard • Meet the competition • Make up for product without competitive pricing • Normal course of business • Judgment • Guidelines • Manual • Bilateral or unilateral

  5. Preferred Underwriting • Tradeoffs vs. exceptions • Judgment?

  6. Table Shave Programs • Who pays? • How are they used?

  7. The Claim • Reinsurer's rights • Client's rights • Factors that effect placement – Jumbo – Auto bind • Prior issues • Audits • Patterns of behavior • Reasonable and customary • Fac cases and disclosure

  8. Thank you

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