Assess whether prior-acts and notice issues make D&O unbindable as submitted

Situation

Prior-acts and notice issues sits with treaty pricing actuary because a fleet fatality in the last 90 days hit a coastal manufacturer after a CAT model refresh. Evidence is renewal large-loss narratives that contradict the application; write the Insurance Underwriting Treaty and Excess option that extract can carry.

Decision

Treaty pricing actuary in a coastal manufacturer after a CAT model refresh must choose Bind / Restrict / Decline / Hold using renewal large-loss narratives that contradict the application after a fleet fatality in the last 90 days.

Hypotheses to test

• Renewal large-loss narratives that contradict the application reads as Bind once a fleet fatality in the last 90 days is lined up to the same Insurance Underwriting population.
• Renewal large-loss narratives that contradict the application is closer to Restrict after a fleet fatality in the last 90 days; Bind would over-claim this Treaty and Excess extract.
• Decline is still live in renewal large-loss narratives that contradict the application for treaty pricing actuary in a coastal manufacturer after a CAT model refresh.
• Renewal large-loss narratives that contradict the application is missing the fact treaty pricing actuary needs after a fleet fatality in the last 90 days; stop this Insurance Underwriting close.

Analysis required

• Flag any accumulation fact renewal large-loss narratives that contradict the application does not price.
• Compare treaty versus facultative treatment for the risk prior-acts and notice issues names.
• Check the submission completeness against a fleet fatality in the last 90 days.
• For this Insurance Underwriting Treaty and Excess file, read renewal large-loss narratives that contradict the application against a fleet fatality in the last 90 days and write the one fact that would move prior-acts and notice issues for treaty pricing actuary.

Recommendation

Choose Bind / Restrict / Decline / Hold on this Insurance Underwriting / Treaty and Excess packet (renewal large-loss narratives that contradict the application after a fleet fatality in the last 90 days). The follow-on Treaty and Excess action is what treaty pricing actuary does next: implement the option, assign an owner, and log the missing fact.