Fair Value Assessments
Starr has completed product reviews and fair value assessments for each of the products we manufacture. Our fair value assessments are reviewed regularly to ensure that our products and services are offering value to the intended target market.
Starr has assessed ‘fair value’ by reviewing a number of key factors relating to the product and service, including but not limited to:
- nature of the product and coverage provided
- cancellation rates
- claims volumes, declinature rates and average claims pay-out
- loss ratios
- customer feedback including complaint volumes and root cause analysis
- product pricing model and total acquisition costs including commissions and other distributor remuneration
- the reasonableness of any administration and/or cancellation fees
- the suitability of the distribution strategy
Starr’s current FVAs for in-scope products (all products excluding contracts of large risk and reinsurance) can be downloaded below:
- A&H – Consumer & Commercial Travel
- A&H – Contractual Performance Indemnity
- A&H – General
- A&H – Medical Expenses (MedEx)
- Aerospace – Airports
- Aerospace – Ancillary Services
- Aerospace – Component Manufacturers
- Aviation – StarrLink Airside Liability
- Aviation – StarrLink Component Parts
- Aviation – StarrLink Fixed Wing Aircraft
- Aviation – StarrLink UK Glider
- Employers Liability – UK
- General Liability - UK
- Management Liability – D&O, CLL, PTL, EPL & Crime
- Professional Indemnity