Audit regulatory is more reliable when it is obtained from knowledgeable independent sources inside the entity.
The entity transferring the risk is called the ceding entity and the entity to which the risk is transferred is called the assuming entity.
A basic premise underlying the application of is that it is reasonable to assume that plausible relationships among data exist and continue in the absence of known conditions to the contrary.
In which account current, for individual policies, the agent collects the premiums directly from the insureds, subtracts his or her commissions and remits the net premiums due to entity?
Adjusting and Others (AO) reserves are often provided for by using the calendar year paid-to-paid method rather than the accident year paid-to-paid method used for Inflation in Defense & Cost Containment (DCC) reserves.
