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Types of Reinsurer treaty structures that can be modeled:
- Cat XOL (yes, here too)
- Agg XOL
- ILWs and Cat Bonds
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Catrader uses what kind of data:
Aggregate exposure data
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Exposure data goes into....
Loss files goes into....
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Company Loss=
Company Market Share * Industry Loss
Company Market Share =
Company Exposure/Industry Exposure
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What is a CLF?
- –A file that contains loss estimates based on detailed location-level analyses performed by Touchstone
- –CLFs contain detailed company loss data,
- by event, down to the subarea level by line of business
- –CLFs do not contain company exposure information
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Types of Exposure Data for Market Share Analyses:
- Sums-Insured
- Number of Risks
- Premiums
- Payroll
- Market shares
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3 Types of Industry Data embedded in Catrader:
- Industry exposures (by area, subarea and LOB)
- Industry losses (by event, area, subarea and LOB)
- Industry take-up rate assumptions
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AIR IED
- Industry Exposure Database
- Essential for estimating market-wide losses
- –Covers all modeled countries
- –Contains all relevant property data i.e.
- Building counts and values by construction type, occupancy type, building height and geography for all modeled LOBs
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Types of files used by Catrader:
- CLF –Export file from Touchstone detailed loss analysis for use in CATRADER.
- –Analyses will be based on cedant’s actual locations, building characteristics, and policy terms rather than on industry averages
UNICEDE®/2 –Aggregate exposures (i.e., county or CRESTA) file for use in CATRADER
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Order program terms are applied:
Ceded percentages (applies to area)
- Occ Ret
- Occ Limit
- Agg Ret
- Agg Limit
- CoIns
- Gross and Net Participations
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What is CoInsurance?
- What the reinsurer pays.
- Coinsurance represents the proportion of the losses to the layer that are paid by the reinsurance program
- A value of 100% means the entire layer loss is paid out by the program
- A value of 25% means 75% of the losses are assumed by the cedant
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When is the FHCF applied?
Before any other reinsurance treaty can be applied
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What is Demand Surge?
Represents the increase in building costs caused by an excess demand for resources such as materials and labor following a major catastrophic event
Applies to the industry loss amount for a single program
Default demand surge factors are provided by AIR, but user-specified values can be entered to override default factors
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What is TVaR?
- Tail Value at Risk
- AVERAGE of all simulated losses from a percentile on the loss distribution through the full tail of the loss distribution
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