Master Outline for Exam 5 - 2004

Master Outline for Exam 7 - 2007

A. Background Law (5% - 10%)

 Mallor, The Legal Environment of Risk Management and Insurance – SK

 Miceli, The Economic Approach to Law, 2004 – SK

 Asbestos, AAA Mass Torts Subcommittee, “Current Issues in Asbestos Litigation,” – W

 A. M. Best 2, "Business as Never Before," Best's Review – SK

B. Regulation of Insurance (25% - 30%)

 Musulin, "Issues in the Regulatory Acceptance of Computer Modeling for Property Insurance Ratemaking," Journal of Insurance Regulation – SK

 Brady, The Regulation of Insurance (First Edition) – L Chapter 2: Insurance Regulation Evolution Chapter 3: State Insurance Departments Chapter 4: Legislatures & the NAIC Chapter 5: Federal Government Regulation Chapter 6: Role of Others in Ins Reg

 Wagner, "Insurance Rating Bureaus," Journal of Insurance Regulation – SK

 Harrington, "Insurance Rate Regulation in the 20th Century," Journal of Ins Regulation – SK

 A. M. Best 1, Annual Review of the Excess and Surplus Lines Industry – SK Section IV Section V

 NAIC Model Law, “P&C Model Rating Law (File and Use Version),” Model Regulation – SK

 Harrington/Doerpinghaus, "The Economics and Politics of Automobile Insurance Rate Classification," Journal of Risk and Insurance – SK

 Williams, "Regulating Property and Liability Insurance Rates Through Excess Profits Statutes," Journal of Risk and Insurance – SK

 Ghezzi, "Actuarial Perspective on Property/Casualty Redlining Issues," Actuarial Digest – SK C. Government and Industry Insurance Programs (10% - 15%)

 Wiening, Personal Insurance (First Edition) – SK (We also have the book.)

 Hamilton/Ferguson, Personal Risk Management and Property-Liability Insurance – SK

 Jenkins, "Natl Flood Insurance Program, Actions to Address Repetitive Loss Properties," – SK

 “Government Insurers Study Note,” CAS Study Note, May 2006 – W

 Nyce, Foundations of Risk Management and Insurance – SK

 Bartlett, "Attempts to Socialize Insurance Costs in Voluntary Insurance Markets: The Historical Record," Journal of Insurance Regulation – SK

 Rejda, "Financing the Social Security Program," Social Insurance & Economic Security – SK

 Ettlinger, State Insurance Regulation (First Edition) – L Chapter 6: Solvency Regulation Chapter 8: Regulating Insurer Insolvency

 Wilcox, "The US Guaranty Association Concept at 25," Journal of Insurance Regulation – SK

 Marshall/Neal, “Troubled Waters in Mississippi, The Homeowners Market and the Attorney General Lawsuit,” CPCU eJournal Nov 2006 – SKN

D. Financial Reporting and Taxation (50% - 55%)

 NAIC AS and IEE (2007)

 Feldblum (Sch F), "Reinsurance Accounting: Schedule F" – W

 Feldblum (Notes), "Notes to the Financial Statement," – W

 Feldblum (Surplus), "Statutory Surplus: Computation, Pricing and Valuation," – W

 IASA 1, Property-Casualty Insurance Accounting (Eighth Edition) – L Chp. 2: Assets Chp. 5: OL, Capital & Surplus Chp. 8: Other Expenses Chp. 9: Investment Income Chp. 10: OI & Direct Charges/Credits Chp. 14: GAAP Chp. 15: SEC Chp. 18: Canadian Accounting

 IASA 2, Property-Casualty Insurance Accounting (Eighth Edition) – L Appendix D

 IASA 3, Property-Casualty Insurance Accounting (Eighth Edition) – L Chp. 16: Financial Strength

 OSFI MCT, "Guideline-Minimum Capital Test (MCT) for P&C Insurance Companies," – SK

 Feldblum (Loss Reserve Discounting), “IRS Loss Reserve Discounting,” – WN

 Feldblum (Taxable Income), “Computing TI for P&C Insurance Companies,” – WN

 Feldblum (Tax Strategy), “Federal Income Tax and Investment Strategy,” – WN

 Blanchard, “Basic Insurance Accounting – Select Topics,” – WN

 Gorvett, "Special Issues-Data Sources," Foundations of Casualty Actuarial Science – W

 Suggested Reading: ASOP 36, "Actuarial Standard of Practice, No. 36, Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves." – W

 COPLFR P&C, “P&C Practice Note, Statements of Actuarial Opinion on P&C Loss Reserves as of December 31, 2006.” – WN

 Conger, "How Might the Presentation of Liabilities at Fair Value Have Affected the Reported Results of U.S. Property Casualty Insurers" – W

 Feldblum (RBC), “NAIC P/C Ins Company RBC Requirements," PCAS – W

 NAIC IRIS, “NAIC Insurance Regulatory Information System” – SKN

 Feldblum (Sch P), "Completing and Using Sch P" (Eighth Edition), CAS Study Note – W

 Feldblum (IEE), "The Ins Expense Exhibit and the Allocation of Investment Income" – W

 NAIC APPM, Preamble – SKN

 NAIC SSAP 53, "Property Casualty Contracts-Premiums" – SKN

 NAIC SSAP 62, "Property and Casualty Reinsurance" – SKN

 NAIC SSAP 65, "Property and Casualty Contracts" – SKN E. No Longer on Syllabus (0%)

 Hensler, Trends in Tort Litigation, The Story Behind the Statistics – SK

 Keeton, “The Impact on Insurance of Trends in Tort Law,” Issues in Insurance – SK

 Biggs, Statement of Jennifer L. Biggs, FCAS, MAAA, … July 10, 2003 – SK

 Troxel & Bouchie, Property-Liability Insurance Accounting and Finance (Fourth Edition) – SK

 Greene, "Government Insurers," Issues in Insurance – SK

 Almagro/Ghezzi, "Federal Income Taxes-Provisions Affecting Property/Casualty Insurers" – W

 IASA 2, Property-Casualty Insurance Accounting (Eighth Edition) – L Chp. 12: Taxation