The Consultant shall Identify, review, evaluate and report upon the following: (1) Financial ratings of insurers; (2) Insurance limits; (3) Deductibles and retentions; (4) Scope of insurance coverage including deficiencies and overlaps; (5) The cost of risk (insurance premiums, retained losses
and administrative expenses); (6) Alternative risk financing options; and (7) Current quality and levels of services provided by insurers.
Since incorporation retained losses
recorded on the balance sheet totalled approximately PS13m and cash flow was severely strained as a result.
QBE says its preliminary estimation of retained losses
from Sandy is between $350 million and $400 million.
Estimate the expected annual retained losses
(to assess average costs/savings).
The obvious purposes of an actuarial report include a reserve estimate to support the company's financial statements and an estimate of retained losses
for the upcoming year to support the company's budgeting process.
Insurers require collateral to guard against the risk the insured company might fail to pay future premiums or retained losses
, particularly in the event of a bankruptcy.
The bank is planning to wipe out about USD3bn of retained losses
by cutting the par value of its stock.
It recorded an after-tax profit of EUR100,000 for the 2007 financial year but was still sitting on retained losses
of EUR193,000 at this year's end.
Under this scenario, most or all retained losses
across integrated lines are lumped into a basket aggregate.
Where retained losses
have a differential effect on how we use loss prevention and control measures, other disruptions to rational risk management strategies can occur.
The Wrexham-based listed company, whose products include its Volplex blood plasma replacement and its OptiFlo range of catheter cleansing products, reported retained losses
of pounds 663,760, a fall of 41% on the previous year.
The savings that may be generated by a self-insurance program are computed by comparing premiums that would have been paid with the retained losses