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Ch7 Financial Operations of Insurers (Property and Casualty Insurers…

- - - - Date
        
        Specific Date
      - Assets=Liabilities+Equity
        
        Assets
        
        Primary Investment Holding(控股投資)
        
        Bonds
        
        Premium Dollars →Financial Assets
        +
        Retained Earnings →Income
        
        Liabilities
        
        Why there are liabilities...?
        
        保險公司必須建立準備金，用來確保先收的保費能支付未來的損失
        
        Financial Reserves
        
        Loss Resreves
        
        Definition
        
        The Estimated cost of settling claims for losses that have already occurred but that have not been paid as of the valuation date
        
        3 more items...
        
        Duriation
        
        Casualty Insurer
        
        1 more item...
        
        Property Insurer
        
        1 more item...
        
        Classification
        
        Loss Ratio Method(Loss Reserves)
        
        Incurred-but-not-Reported(IBNR) Reserve
        
        Case Reserves
        
        2 more items...
        
        Unearned Premium Reserve
      - Definition
        
        A summary of what a company owns(assets), what it owes(liability), and the difference between total assets and total liabilities(owner's equity)