Reserve adequacy, market position, business risk and diversification, governance and management, risk management, and reinsurance and catastrophe risk. Usually market position and business risk tend to be rating drivers. For some P&C insurers reserve adequacy may be more prominent depending on the type of business written.
Key learning objectives:
Define the rating factors for the adequacy of the reserve
Explain the Risk of Business and Diversification and role of Governance and Management.
Explain the role of risk management
Define Reinsurance and Catastrophe Risk
Explain the value of the insurance company\\\'s market position in a dynamic environment.