Usaa Case

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USAA Case Study

The main purpose of the case is to find some effectively ways to manage catastrophe risk of the USAA company. United Services Automobile Association Company was an insurance company. Its main consumers are military officers and its services include a large range of insurance, such as automobile, homeowner, dwelling and personal liabilities, and so on. Because of its particular consumers and its service variety, the USAA Company was suffered with catastrophe events, such as hurricanes and earthquake. In order to protect the company’s profit and to decrease loss from those events, USAA decided to manage this risk exposure. USAA Company was a unique and high credit rating insurance company whose policyholder base is military officers and their families. However, in recent years, its growth rate was affected by catastrophe events. Apart from the destructive destroy of catastrophe events; USAA Company’s particular policyholder base and location have a bad influence on USAA’s financing. For example, the Andrew hurricane resulted in a large loss for the whole insurance industry; especially it had very deep and harmful influence on USAA Company. In order to understand its exposure to catastrophe losses, insurance companies use models to quantify losses and help them to determine their financial requirements and policies. The USAA had engaged AIR to help them. The cost of protection was determined by rate on line (ROL). In order to decrease the catastrophe loss, in traditionally, insurance companies chose to reinsure themselves against the loss. The reinsurance has different layers of protection, and the source of reinsurance had private and public types. The price of reinsurance is determined by ROL and actuarial probability, but the capacity of reinsurance industry cannot meet insurance companies’ demand because of several reasons.…...

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