Apportionment of layered property coverage expenses
Article Abstract:
A study of the problems related to the apportionment of layered property coverage expenses indicates that disagreements over the apportionment of claim-related costs entail huge amounts, that foreign insurers are frequently implicated in these disputes, that claim handling expenses are not always well comprehended and that resolution is made difficult by arguments between layers of coverage and among participants on the same layer. In this light, more practical guiding principles for communication and claim coordination between multiple parties are recommended.
Publication Name: CPCU Journal
Subject: Insurance
ISSN: 0162-2706
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Hurricane modeling and the Florida Commission
Article Abstract:
Florida created the Florida Commission on Hurricane Loss Projection Methodology in 1995 to settle disputes between actuaries in assessing the losses in natural disasters. The move was prompted by recent disasters such as Hurricane Hugo in 1989 and Hurricane Andrew in 1992 which have revealed inadequacies in methods of evaluating catastrophe costs. The commission set its own standards in evaluating computer-aided catastrophe models used in estimating risks and losses.
Publication Name: CPCU Journal
Subject: Insurance
ISSN: 0162-2706
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Current environment - soft landing ahead for property-casualty insurers - or another bumpy ride? Industry trends
- Abstracts: Taking the next step in hurricane modeling. Cycles and crises. In defense of rate regulators
- Abstracts: The ethics of insurance agents vs. insurance students: the educational implications
- Abstracts: How We Got Where We Are. Insuring the Data Processing Risk. New Directions in Telemarketing
- Abstracts: Occupational Disease: Is There a Remedy? Keeping the Lid on Soaring Medical Costs. Coping with the crisis