Reserve Management (Managing Reserves) مقاله

خلاصه ماشینی:

Many techniques, especially those related to business interruption insurance claims, were created from the beginning by direct insurers who worked with reinsurers after the September 11 attacks. At that time, policyholders, including telecommunications companies, banks, and investment venues, often had claims related to business interruption insurance, each amounting to nearly 100 million dollars. Following a suggestion from their central team, loss management specialists and (refer to the page image) other types of consultants, including forensic accountants, economists, and IT managers, were hired, with the aim that all these individuals would assess the policyholders' claims. Before September 11, reinsurers often received low-quality information regarding claims, which included reserves, and this information usually reached them late. One of the important objectives in this regard is to consult with the insurance company's own employees, loss adjusters, lawyers, and consultants, and in the most complex operations, with reinsurers regarding reserves. By using a project management approach for such claims, the expert team identifies all possibilities before they turn into problems and provides technical advice to any other person involved in the matter, including the insurance company's loss experts. Given the importance of reserves for the primary insurer and reinsurers, there will be very high pressure on the loss expert to accurately determine the amount of loss in the shortest possible time. Such an increase in the amounts reserved for loss can seriously jeopardize capital management by insurance companies.