A.M. Best Updates Canadian Property/Casualty Supplemental Rating Questionnaire

A.M. Best has updated its 2015 statement year “Property/Casualty Supplemental Rating Questionnaire” (SRQ) in several key areas. The areas affected include: Other Liability Coverages; Natural Catastrophe Probable Maximum Loss (PML) Analysis; and Cyber Risk.

The request for net premiums written by type of coverage within the other liability annual statement lines of business shows which types of other liability coverage the rating unit issued on a direct basis and will be compared to the amount of business kept on a net of reinsurance basis. A request for natural catastrophe reinsurance program features will indicate whether an adjustment to PMLs may be necessary when performing stress tests and also when evaluating the rating unit’s catastrophe risk management program. There is also an additional request for policyholder level information pertaining to cyber coverages. This information will be used to monitor the accumulation of cyber risk being provided to the rating unit’s largest policyholders and will be utilized to assess the potential loss exposure and corresponding impact on a rating unit’s capitalization.

A copy of the new and revised Canadian property/casualty questions can be accessed at www.ambest.com/srq.

A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its affiliates.ALL RIGHTS RESERVED.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160118005807/en/