GI 301

Assumes knowledge from GI 101
The candidate will be able to use stochastic loss development models to estimate reserve variability.
The candidate will understand and apply the considerations in the development of losses for excess limits and layers.
The candidate will be able to estimate premium liabilities.
The candidate will understand the considerations in selecting a risk margin for unpaid claims.
The candidate will be able to apply methods to monitor actual versus expected experience.
The candidate will understand excess of loss coverages and retrospective rating.
The candidate will understand reinsurance topics including the issues encountered when performing a reserve analysis on reinsurance, how to apply the fundamental techniques of reinsurance pricing and risk transfer testing of reinsurance contracts.
The candidate will understand and be able to apply ratemaking techniques for the following situations: classification ratemaking, deductible options, increased limit options, claims-made polices and individual risk rating.
The candidate will understand catastrophe modeling and how its output may be used in actuarial tasks.