Loss reserves that are not established on a claim number basis are identified as bulk reserves.
Answer(s): A
The bulk reserves are used when statistical analysis indicates that the ultimate development of the original reserves will be deficient are called:
Answer(s): B
Which policy covers losses reported during the policy period rather than when they occurred?
Answer(s): C
___________ is the sale of damaged goods, for which the insured has been indemnified by the company.
What is based on the principle that for a service rendered (i.e., the payment of the indemnity claim), the insured assigns to the insurer any rights that may inure to the insured from third parties.
Expenses that are identified by the state and coverage code of the related claim to properly match the costs to the policy and earned premium are called:
Loss Notification, Coverage Triggers, Data Maintenance/Accuracy are all categories of:
Answer(s): D
What is the summation of many claims triggered from a common event may have one general claim file and subsidiary files to contain the facts surrounding the individual claims?
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