CAS Exam 6C Fall 2013, Question 35
Study guide: Exam 6C
The actuary of a federally-licensed insurer is preparing the draft of the Appointed Actuary's report for the financial year ending December 31, 2012. For each of the following hypothetical scenarios, identify and briefly explain the actions that the actuary should take.
Part a (0.5 points)
There was a big ice storm in Calgary, Alberta between January 15 and January 17, 2013. The company has minimal exposure in Alberta.
Part b (0.5 points)
The actuary is notified that the claims from the last week of December 2012, were missing in the database that the actuary used for the reserve analysis. The error has been corrected as of February 1, 2013.
Part c (0.5 points)
There was a ruling on the Minor Injury Guidelines (MIG) in Ontario on January 15, 2013, which resulted in approximately 30% of injuries no longer being capped.
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