02.04. Policy Analysis

Pre-Loss Policy Analysis
- mainly scenario analysis
- insureds: past loss experiece; friends / neighbors, etc can be used as proxy
Limitations of Scenario Analysis
- impossible to account for every possibility
- may recognize the possibility of an event but underestimate the extent of potential loss
Post-Loss Policy Analysis - DICE
- Declarations: determine whether the information provided precludes coverage
- Insuring Agreement
- Conditions
- Exclusions
Amount Payable
- property insurance: affected by valuation method, policy limits, coinsurance provisions, deductible
- liability insurance: established by the courts, or a negotiated settlement
- can also be affected by other insurance

Author

COC2

207111

Card Set

02.04. Policy Analysis

Description

Policy Analysis

Updated

2013-03-13T23:06:45Z

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