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Frequently Asked Questions: Best's Schedule F (Reinsurance) - Property/Casualty - United States
What is Best's Schedule F?
How will I benefit from Best's Schedule F?
What reinsurance information does this product provide?
What type of company information does this product contain?
How long after the filing date is the product available?
What is BestLink for Excel?
Who typically uses Best's Schedule F and why?
How is the data collected and validated for the financial products?
What does my purchase include?
What features does the software offer?
What network options are available?
How can I order Best's Schedule F?
Is product training available?
If I need product support, how can I find it?
What is Best's Schedule F?
Best's Schedule F is an extensively detailed database containing specific reinsurance information for more than 2,000 property/casualty insurance companies and approximately 320 groups, and their reinsurers.
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How will I benefit from Best's Schedule F?
You'll benefit from:
· Thoroughly cross-checked data, ensuring the most accurate information available
· The option to export data to other applications, allowing further manipulation
· Consistent company names, allowing you to perform searches with more accuracy and ease
· Advanced search capabilities, letting you perform searches on company information or statement details
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What reinsurance information does this product provide?
This product provides reinsurance information, including Parts 1 through 7 as they appear on Schedule F of insurers' financial statements, including:
· Assumed Reinsurance: all reinsurance undertaken by the company
· Premium Portfolio Reinsurance: original premiums and reinsurance premiums for portfolio transactions effected or canceled during the year
· Ceded Reinsurance: all insurance placed as reinsurance with other companies
· Aging of Reinsurance: reinsurance recoverable on paid losses and paid loss adjustment expenses
· Provision for Unauthorized Reinsurance: reinsurance written by unlicensed companies
· Provision for Overdue Authorized Reinsurance: payment of loss and loss adjustment expenses by authorized reinsurers
· Provision for Overdue Reinsurance: overdue balances owed the company
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What type of company information does this product contain?
You'll have access to company profiles and key financial data, including:
· Company address
· State of domicile
· Company president
· National Association of Insurance Commissioners (NAIC) number, if available
· Federal Employer Identification Number (FEIN), if available
Plus, this product contains value-added data such as:
· Total assets
· Calculation of reinsurance recoverables to policyholder surplus
· Premiums written
· Best's Ratings and financial size category
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How long after the filing date is the product available?
Best's Schedule F is first available in the second quarter -- approximately two months after the filing date -- with one additional data flow that contains value-added group records and calculations of A.M. Best ratios.
A.M. Best performs an exhaustive series of cross-checks, even more extensive than those required by the NAIC, ensuring the most accurate data available.
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What is BestLink for Excel?
BestLink for Excel allows users of several products in A.M. Best's Insurance Industry Financial Suite to integrate the latest rating and financial data directly into their Excel-based research projects from the Web. This new offering is the first to use our new Web Services architecture, powered by A.M. Best's online Global Insurance & Banking Database.
BestLink for Excel features a series of Wizards and Quick Reports that let users download professional data presentations covering such items as Best's Company Profile Reports, Best's Ratings Profile Reports, Best's Executive Summary Reports, Best's Market Share Reports, Best's Insurance Expense Exhibit Studies and Statement Pages, depending on the product purchased. Users can also create Custom Reports, selecting the companies, data fields, years (up to 11) and, in some cases, the states and lines of business required for their research.
BestLink for Excel is available to purchasers of Best's Statement File (Property/Casualty, Life/Health and Health, including Separate Accounts), Best's Statement File - Canada (Property/Casualty and Life/Health), Best's Statement File - Global, Best's State/Line (Property/Casualty Lines, Life Lines, A&H Lines and Health Lines), Best's Insurance Expense Exhibit, Best's Schedule D, Best's Schedule F, Best's Schedule P and Best's Schedule S.
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Who typically uses Best's Schedule F and why?
· Reinsurance Security Analysts: to monitor reinsurance activity for the development of marketing and investment strategies
· Financial Analysts: to analyze reinsurance activity to determine which companies are ceding and assuming premiums with whom
· Insurance Executives: to monitor the reinsurance industry's investment activity
· Research Librarians: as a reference source for corporate libraries that receive research requests for reinsurance data
· Actuaries: to analyze reinsurance activity for the development of marketing and investment strategies
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How is the data collected and validated for the financial products?
A.M. Best collects annual and quarterly statement data from thousands of companies (property/casualty and life/health companies, HMOs, alternative-market entities and others). The data is prepared and submitted on software programs (such as BestESP Services) in the manner defined by the requirements of the National Association of Insurance Commissioners (NAIC).
To ensure the accuracy and reliability of the data, we perform an exhaustive series of inter- and intra-page and current- to prior-year cross-checks. Major errors or inconsistencies that cannot be rectified by A.M. Best are reviewed with the insurer for further clarification when possible. We lead the industry in cross-checking calculations, devoting vast resources to the data-validation effort.
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What does my purchase include?
Your purchase includes Parts 1 through 7 of the Schedule F database if you choose to purchase it as a package. Each part may be purchased separately or in any combination that best suits your needs.
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What features does the software offer?
With this software, you can:
· Save and import company lists from other A.M. Best products.
· Select database parts from the main screen.
· Export data into various filed formats.
· View a selected company with all available records
· Access updated Best's Ratings, company reports, news and more via Internet links embedded in the CD-ROM (additional product subscriptions may be required to access some online information)
· Search for specific criteria within company profile information or statement detail
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What network options are available?
Our financial data products are available in stand-alone or network versions.
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How can I order Best's Schedule F?
Please contact your local sales representative, or call our Sales Department at (908) 439-2200, ext. 5311, for pricing, including single-seat and multi-user options. Or e-mail your inquiries to sales@ambest.com.
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Is product training available?
Yes. A.M. Best offers a variety of training workshops for our online and CD-ROM-based products. You'll become familiar with product features, learn to navigate through the various screens and discover time-saving tips and shortcuts. To register for training or to arrange a session at your site, please call (908) 439-2200, ext. 5115. Or e-mail training@ambest.com.
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If I need product support, how can I find it?
· The online Product Support Center links you to the A.M. Best Web site, where you can access product updates, release notes and information on new products and enhancements.
· The Help Menu within the product offers field descriptions, a tutorial, tips for more efficient product usage and more.
· Our Technical Products Support Department is available exclusively to customers who have questions about A.M. Best's online and CD-ROM-based products and services.
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