Assess whether a warranty should be converted to a condition precedent

Situation

After a professional-liability claim that looks like a prior-knowledge issue, D&O claims-made notice and prior-acts history is what treaty pricing actuary can touch in a coastal manufacturer after a CAT model refresh. Insurance Underwriting will live with Bind versus Restrict on this Treaty and Excess file.

Decision

Treaty pricing actuary in a coastal manufacturer after a CAT model refresh must choose Bind / Restrict / Decline / Hold using D&O claims-made notice and prior-acts history after a professional-liability claim that looks like a prior-knowledge issue.

Hypotheses to test

• The population in D&O claims-made notice and prior-acts history is the one a professional-liability claim that looks like a prior-knowledge issue named, so Bind follows for this Treaty and Excess file.
• The population in D&O claims-made notice and prior-acts history is adjacent only to a professional-liability claim that looks like a prior-knowledge issue; Restrict is the honest Insurance Underwriting call.
• A coastal manufacturer after a CAT model refresh already contained a professional-liability claim that looks like a prior-knowledge issue before D&O claims-made notice and prior-acts history arrived; no new Treaty and Excess path.
• Provenance on D&O claims-made notice and prior-acts history after a professional-liability claim that looks like a prior-knowledge issue is broken; do not pick Bind or Restrict yet.

Analysis required

• Compare treaty versus facultative treatment for the risk a warranty should be converted names.
• Check the submission completeness against a professional-liability claim that looks like a prior-knowledge issue.
• Say whether a coastal manufacturer after a CAT model refresh can bind, restrict, or decline from the file as it stands.
• For this Insurance Underwriting Treaty and Excess file, read D&O claims-made notice and prior-acts history against a professional-liability claim that looks like a prior-knowledge issue and write the one fact that would move a warranty should be converted for treaty pricing actuary.

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 professional-liability claim that looks like a prior-knowledge issue). 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.