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...ence: $1 million General Aggregate: $2 million Products/Completed Operations Aggregate: $1 million Personal /Adver...rruption 12 months Single Combine Deductible Spoilage Settlement on Selling...

...iddle excess layers and moderate aggregate limits more appropriate win-win sol...ompensation marketplace, successful programs will result when risk managers wo...

... actuarial analyses: Actuarial reserve certifications FASB 112 requirements GASB 10 requirements Satisfaction of self-insurance requirements Negotiation of security requirements and letters of credit Acquisition due diligence analyses Evaluation of expected liabilities for financial statements Insurance budgeting Determination of funding requirements within deductible or self-insured retention Negotiation of price for aggregate coverage Selection of retention levels Cost allocations Payout analysis indicating the probable amount of payments by fiscal year Current-value analysis which indicates the current value of expected future payments at one or more designated discount rates WHAT QUESTIONS WILL GIVE THE ACTUARY A BETTER UNDERSTANDING OF THE PROJECT'S SCOPE ... The following is a list of frequently performed actuarial analyses: Actuarial reserve certifications FASB 112 requirements GASB 10 requirements Satisfaction of self-insurance requirements Negotiation of security requirements and letters of credit Acquisition due diligence analyses Evaluation of expected liabilities for financial statements Insurance budgeting Determination of funding requirements within deductible or self-insured retention Negotiation of price for aggregate coverage Selection of retention levels Cost allocations Payout analysis indicating the probable amount of payments by fiscal year Current-value analysis which indicates the current value of expected future payments at one or more designated discount rates WHAT QUESTIONS WILL GIVE THE ... 2013 10:45:23 PM by CompleteMarkets Editor , Al Rhodes This content has not been rated yet. ACTUARIAL CHECKLIST FOR THE INSURANCE AND RISK MANAGEMENT PROFESSIONAL by Al Rhodes The responsibilities of risk managers, risk management consultants, accountants, and brokers increase as insurance programs become more complex. An experienced casualty actuary must help manage these new responsibilities. This report poses several questions that will arise when you shop for a casualty actuary and answers them frankly and concretely. WHEN DO YOU NEED THE SERVICES OF A CASUALTY ACTUARY? There ...

...n Negotiation of price for aggregate coverage Selection of retenti...available. Per-occurrence and aggregate limitations for all policy perio...

...including total available annual aggregate considerations should be continuous...st be given to the accumulation of deductibles, self-insurance financial loss ...

... capital stock of the Agency owned by the Sellers, hereinafter referred to as the "Subject Stock," as follows: shares from Able shares from Baker Purchase Price. Subject to potential adjustment as set forth hereinafter, the Buyer agrees to pay to the Sellers the aggregate sum of $472,828.00, hereinafter referred to as the "Base Price," together with interest at the rate of 8.0 percent per annum, which principal sum and interest shall be due and payable as follows: Subject to adjustment as provided hereinafter, ... insurance or to the extent that the Buyer shall cause the Agency to terminate, non-renew or reduce the present insurance coverage carried by the Agency; provided, however, the Sellers shall remain responsible for the amount of such claims to the extent that they fall beneath the deductibles or exceed the limits of liability of such insurance policies. Procedure for Indemnification. In the event a claim shall be made against the Sellers for indemnification (other than a claim directly against the Sellers) as provided for in section 7 hereof, then upon notice ... including therewith copies of any and all legal process and documents which may be served on the Agency or the Buyer or claim letters or other documents asserting a claim or demand) to the Sellers and upon the failure by the Sellers within 15 days from the date of notice to assume the defense of such claim, the Agency or the Buyer shall be permitted and authorized to defend, settle and pay such claim on their own, the reasonable costs of which defense, judgment, settlement (including attorneys' fees) or other compromise ...

... capital stock of the Agency owned by the Sellers, hereinafter referred to as the "Subject Stock," as follows: shares from Able shares from Baker Purchase Price. Subject to potential adjustment as set forth hereinafter, the Buyer agrees to pay to the Sellers the aggregate sum of $472,828.00, hereinafter referred to as the "Base Price," together with interest at the rate of 8.0 percent per annum, which principal sum and interest shall be due and payable as follows: Subject to adjustment as provided hereinafter, ... insurance or to the extent that the Buyer shall cause the Agency to terminate, non-renew or reduce the present insurance coverage carried by the Agency; provided, however, the Sellers shall remain responsible for the amount of such claims to the extent that they fall beneath the deductibles or exceed the limits of liability of such insurance policies. Procedure for Indemnification. In the event a claim shall be made against the Sellers for indemnification (other than a claim directly against the Sellers) as provided for in section 7 hereof, then upon notice ... including therewith copies of any and all legal process and documents which may be served on the Agency or the Buyer or claim letters or other documents asserting a claim or demand) to the Sellers and upon the failure by the Sellers within 15 days from the date of notice to assume the defense of such claim, the Agency or the Buyer shall be permitted and authorized to defend, settle and pay such claim on their own, the reasonable costs of which defense, judgment, settlement (including attorneys' fees) or other compromise ...

... capital stock of the Agency owned by the Sellers, hereinafter referred to as the "Subject Stock," as follows: shares from Able shares from Baker Purchase Price. Subject to potential adjustment as set forth hereinafter, the Buyer agrees to pay to the Sellers the aggregate sum of $472,828.00, hereinafter referred to as the "Base Price," together with interest at the rate of 8.0 percent per annum, which principal sum and interest shall be due and payable as follows: Subject to adjustment as provided hereinafter, ... insurance or to the extent that the Buyer shall cause the Agency to terminate, non-renew or reduce the present insurance coverage carried by the Agency; provided, however, the Sellers shall remain responsible for the amount of such claims to the extent that they fall beneath the deductibles or exceed the limits of liability of such insurance policies. Procedure for Indemnification. In the event a claim shall be made against the Sellers for indemnification (other than a claim directly against the Sellers) as provided for in section 7 hereof, then upon notice ... including therewith copies of any and all legal process and documents which may be served on the Agency or the Buyer or claim letters or other documents asserting a claim or demand) to the Sellers and upon the failure by the Sellers within 15 days from the date of notice to assume the defense of such claim, the Agency or the Buyer shall be permitted and authorized to defend, settle and pay such claim on their own, the reasonable costs of which defense, judgment, settlement (including attorneys' fees) or other compromise ...

... capital stock of the Agency owned by the Sellers, hereinafter referred to as the "Subject Stock," as follows: shares from Able shares from Baker Purchase Price. Subject to potential adjustment as set forth hereinafter, the Buyer agrees to pay to the Sellers the aggregate sum of $472,828.00, hereinafter referred to as the "Base Price," together with interest at the rate of 8.0 percent per annum, which principal sum and interest shall be due and payable as follows: Subject to adjustment as provided hereinafter, ... insurance or to the extent that the Buyer shall cause the Agency to terminate, non-renew or reduce the present insurance coverage carried by the Agency; provided, however, the Sellers shall remain responsible for the amount of such claims to the extent that they fall beneath the deductibles or exceed the limits of liability of such insurance policies. Procedure for Indemnification. In the event a claim shall be made against the Sellers for indemnification (other than a claim directly against the Sellers) as provided for in section 7 hereof, then upon notice ... including therewith copies of any and all legal process and documents which may be served on the Agency or the Buyer or claim letters or other documents asserting a claim or demand) to the Sellers and upon the failure by the Sellers within 15 days from the date of notice to assume the defense of such claim, the Agency or the Buyer shall be permitted and authorized to defend, settle and pay such claim on their own, the reasonable costs of which defense, judgment, settlement (including attorneys' fees) or other compromise ...

... capital stock of the Agency owned by the Sellers, hereinafter referred to as the "Subject Stock," as follows: shares from Able shares from Baker Purchase Price. Subject to potential adjustment as set forth hereinafter, the Buyer agrees to pay to the Sellers the aggregate sum of $472,828.00, hereinafter referred to as the "Base Price," together with interest at the rate of 8.0 percent per annum, which principal sum and interest shall be due and payable as follows: Subject to adjustment as provided hereinafter, ... insurance or to the extent that the Buyer shall cause the Agency to terminate, non-renew or reduce the present insurance coverage carried by the Agency; provided, however, the Sellers shall remain responsible for the amount of such claims to the extent that they fall beneath the deductibles or exceed the limits of liability of such insurance policies. Procedure for Indemnification. In the event a claim shall be made against the Sellers for indemnification (other than a claim directly against the Sellers) as provided for in section 7 hereof, then upon notice ... including therewith copies of any and all legal process and documents which may be served on the Agency or the Buyer or claim letters or other documents asserting a claim or demand) to the Sellers and upon the failure by the Sellers within 15 days from the date of notice to assume the defense of such claim, the Agency or the Buyer shall be permitted and authorized to defend, settle and pay such claim on their own, the reasonable costs of which defense, judgment, settlement (including attorneys' fees) or other compromise ...