The P&C Actuary's Role in Solvency Monitoring - Property and ...

PACICC – The P&C Actuary’s Role in Solvency Monitoring Page 48
APPENDIX C – OSFI 2010 MEMORANDUM FOR THE
APPOINTED ACTUARY’S REPORT ON PROPERTY AND
CASUALTY INSURANCE BUSINESS
TABLE OF CONTENTS
1. INTRODUCTION
2. NOTE ON REGULATORY REQUIREMENTS
2.1 Application of Professional Standards to the Appointed Actuary’s Report and Valuation
2.2 Differences (if any) Between Actuary's Valuations and Corresponding Annual Return
Liabilities
2.3 Filing of Reports
2.4 Persons Signing the Appointed Actuary's Report
3. SPECIAL LINE OF BUSINESS CONSIDERATIONS
3.1 Marine Insurance
3.2 Title Insurance
3.3 Accident and Sickness Insurance
4. FORMAT OF THE APPOINTED ACTUARY'S REPORT
4.1 Report Outline
4.2 Table of Contents
5. CONTENTS OF THE APPOINTED ACTUARY’S REPORT
5.1 Introduction
5.2 Expression of Opinion
5.3 Supplementary Information Supporting the Opinion
5.4 Executive Summary
5.5 Description of Company
5.5.1 Ownership and Management
5.5.2 Business
5.5.3 Reinsurance
5.6 Data
5.7 Claims Liabilities
5.7.1 Undiscounted Claims Liabilities
5.7.2 Claims Expenses
5.7.3 Comparison of Actual Experience with Expected Experience in Prior Year-End
Valuations
5.7.4 Discounted Claims Liabilities
5.7.5 Reinsurance Ceded
5.8 Premium Liabilities
5.9 Other Liabilities/Other Assets