Cheatography
https://cheatography.com
Wind
VVOR
AIR |
Data
Detailed AIR to Prefecture or SubArea level
Convert from RMS data using EDC if needed
PerilCode -- WS = 1, SS = 256, PF = 4096
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Model
WS+50SS+50PF_wDA_wDS
Japan Domiciled -> apply prefecture Vuln Adj
No Adj made for Worldwide Deal |
LAE
1.035 |
Model Change
Adopted the Alternate view for Japan WS in VVOR v19
Vendor Model latest updated on Oct-2017 |
Others
2 MFIDs: Ori and Alt view.
- Running thru Cattools only give you the Alt. View --> Use the Touchstone UI to get both
Templates in TS has 50% TakeUp applied
- Through Loss Mod. Factor onto SS and PF OR
- Through 50% SS and PF analysis Options onto Peril Wind |
If your exposure is coded for PF (4096) or SS (256), you will always get 100% loss for these perils, regardless of the % value entered in the analysis setting. You can only set the % PF/SS if your exposures are coded for WS (1) only.
ShopVac
Use this to pull AIR results: ShopVac |
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Earthquake
VVOR
VRISC (but model in RMS as well) |
Data
Usually EDM is provided
Aggregated EFEI exposures is provided |
Model
Model EQ+FF
RMS ALM analyses
- Default Profiles: EQ Only
- Manually attach EQ+FF profiles for EFEI
Follows Broker's Profile
- VRISC+ <- VRISC cant model aggregately |
LAE
1 for Japan Domiciled Clients |
Policy Terms
Step Functions
POLICYSTRUCTURE = 2 from the policy table
Payoffs by buckets
GR could be larger than GU losses |
Franchise Deductibles
Portfolio name with FR OR results dont match
Use RDP USMDRMS19-31 to model |
Extra Expense Policies (Wind)
GR could be larger than GU losses because Extra Expense policies are not accounted for in exposures |
VRISC vs RMS
YOY change in EQ losses from RiskLink was very different than VRISC. |
Sompo Japan Nipponkoa Insurance Inc – 2019 EQ QS (28029)
Large RMS losses reduction but not VRISC is seen due to changes in YearBuilt. |
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The Big 4 - AIR Modeling
The Big Four are Aioi, Mitsui, Sompo Japan and Tokio Marine |
1) Save AAL by Loc to a Central DB using SQL |
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SASTI
Create Modeling Data from Policy info/Agg text; might involve coding Step functions and Extra Expense policies |
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Glossary
Earthquake Fire Expense Insurance (EFEI) |
Pay additional expenses caused by fire following an earthquake
Does not fall under the government’s JER program.
Included as a standard feature in non-life insurers normal fire insurance policies |
Small -amount and short-term insurance (SASTI) |
Insurance periods of one year or less (with respect to non-life insurance, two years or less)
Insurance amounts not exceeding certain amounts stipulated in IBA (i.e., JPY10 million for non-life insurance) |
References
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1) For investigations:
- JapanEQ_Sensitivty_AAL_Comparison
- JPWS_Sensitivity_AAL_Comparison_TSv7 |
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