Assess whether cyber controls claimed are actually in force (55cc61)

Situation

In a fleet with a new ELD vendor and rising frequency, D&O claims-made notice and prior-acts history is the evidence after a reserve increase that blows the account's loss ratio. Commercial property underwriter has to pick Bind or Restrict for this Insurance Underwriting Treaty and Excess close using D&O claims-made notice and prior-acts history.

Decision

Commercial property underwriter in a fleet with a new ELD vendor and rising frequency must choose Bind / Restrict / Decline / Hold using D&O claims-made notice and prior-acts history after a reserve increase that blows the account's loss ratio.

Hypotheses to test

• D&O claims-made notice and prior-acts history reads as Bind once a reserve increase that blows the account's loss ratio is lined up to the same Insurance Underwriting population.
• D&O claims-made notice and prior-acts history is closer to Restrict after a reserve increase that blows the account's loss ratio; Bind would over-claim this Treaty and Excess extract.
• Decline is still live in D&O claims-made notice and prior-acts history for commercial property underwriter in a fleet with a new ELD vendor and rising frequency.
• D&O claims-made notice and prior-acts history is missing the fact commercial property underwriter needs after a reserve increase that blows the account's loss ratio; stop this Insurance Underwriting close.

Analysis required

• Test exposure, limits, and endorsement language in D&O claims-made notice and prior-acts history after a reserve increase that blows the account's loss ratio.
• Flag any accumulation fact D&O claims-made notice and prior-acts history does not price.
• Compare treaty versus facultative treatment for the risk cyber controls claimed are names.
• For this Insurance Underwriting Treaty and Excess file, read D&O claims-made notice and prior-acts history against a reserve increase that blows the account's loss ratio and write the one fact that would move cyber controls claimed are for commercial property underwriter.

Recommendation

Choose Bind / Restrict / Decline / Hold on this Insurance Underwriting / Treaty and Excess packet (D&O claims-made notice and prior-acts history after a reserve increase that blows the account's loss ratio). The follow-on Treaty and Excess action is what commercial property underwriter does next: implement the option, assign an owner, and log the missing fact.