ACCT 424

Structures of insurance companies financial statements (income statement, balance sheet, cash flow statements) vary than structures the non- insurance

organization due to the unique features of the insurance companies. Give a sample of the structures for any selected Saudi insurance company financial statements and explain the rational for classifying balance sheet accounts. Write no less than 300 words (8 marks)

Answer:

Q2. Explain how three of the following elements can affect estimate of loss reserve. Write no less than 300 words (7 marks)

The claims-handling process

Policy and exposure forms

Inflation

Legal trends

Environmental factors

Mix of claimants

Timeliness of claim reporting by claimants

Answer: