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PSC Insurance Group

Insurance, Australia, New South Wales, Sydney

PSC Insurance Group provides customized insurance solutions for businesses and individuals, ensuring peace of mind and financial protection in an ever-changing world.

About PSC Insurance Group

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
Australia, New South Wales, Sydney
Official Website
http://www.pscinsurancegroup.com.au
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FAQs – PSC Insurance Group

What is the difference between net loss ratio and gross loss ratio?

Gross loss ratio considers claims paid before any reinsurance recoveries, while net loss ratio accounts for claims after reinsurance adjustments. The net loss ratio provides a more accurate picture of an insurer’s direct financial responsibility.


What is predictive analytics, and why is it important for actuaries?

Predictive analytics involves using data, statistical algorithms, and machine learning to forecast future risks and trends, helping actuaries refine insurance pricing, claims management, and financial risk models.


What happens if an insurer violates FCA regulations?

The FCA can impose fines, revoke licenses, issue warnings, or take legal action against insurers that fail to comply with regulations.


Does marine cargo insurance cover delays in delivery?

Most marine cargo insurance policies do not cover delays, unless there is damage or loss related to the delay. Separate coverage, such as business interruption insurance, may be required for delay-related losses.


Is Medicare free?

Part A is free for most individuals who paid Medicare taxes, but Part B, Part C, and Part D require monthly premiums, co-pays, and deductibles based on income.


How does RBC differ from traditional capital requirements?

RBC is risk-sensitive, meaning it adjusts based on the company's risk exposure, while traditional capital requirements are typically fixed, regardless of the insurer's risk level.


Does comprehensive coverage cover natural disasters?

Yes, comprehensive coverage typically covers damages caused by natural disasters such as floods, earthquakes, and hurricanes, unless explicitly excluded in the policy.


What topics are covered in the CPCU curriculum?

The CPCU curriculum covers risk management, insurance law, underwriting, property and casualty insurance, ethics, financial analysis, and insurance operations to ensure comprehensive industry expertise.


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