OF OCCURRENCE OR CLAIMBUILDINGAMTPERS PROPAMTEFFECTIVE DATEEXPIRATION DATEPAYMENT PLANAUDITCODE:SUB CODE:COMMERCIAL GENERAL LIABILITYGENERAL AGGREGATE$PREMIUMSPRODUCTS & COMPLETED OPERATIONS AGGREGATE$OWNER'S & CONTRACTOR'S PROTECTIVEPERSONAL & ADVERTISING INJURY$EACH OCCURRENCE$DEDUCTIBLESDAMAGE TO RENTED PREMISES (each occurrence)$MEDICAL EXPENSE (Any one person)$EMPLOYEE MADEOCCURRENCEBODILY INJURY$(P) PAYROLL
PER $1,000/PAY(C) TOTAL COST
PER $1,000/COST(U) UNIT
PER UNIT(S) GROSS SALES
PER $1,000/SALES(A) AREA
PER 1,000/SQ FT(M) ADMISSIONS
PER 1,000/ADM(T) OTHER1.PROPOSED RETROACTIVE DATE:1.DEDUCTIBLE PER CLAIM:$2.ENTRY DATE INTO UNINTERRUPTED CLAIMS MADE COV:2.NUMBER OF EMPLOYEES:COVERAGESLIMITSCLAIMS MADE (Explain all "Yes" responses)EMPLOYEE BENEFITS LIABILITYEXPLAIN ALL "YES" RESPONSES (For past or present operations)YESNOEXPLAIN ALL "YES" RESPONSES (For past or present operations)YESNO$ PAID TO SUB% OF WORK# FULL# STAFF:TIME STAFF:TIME INEXPECTEDPRODUCTSANNUAL GROSS SALES# OF UNITSINTENDED USEPRINCIPAL COMPONENTSMARKETLIFEEXPLAIN ALL "YES" RESPONSES (For any past or present product or operation)YESNOEXPLAIN ALL "YES" RESPONSES (For any past or present product or operation)YESNOINTERESTRANK:NAME AND ADDRESSREFERENCE #:CERTIFICATE REQUIREDINTEREST IN ITEM ALL "YES" RESPONSES (For all past or present operations)YESNOEXPLAIN ALL "YES" RESPONSES (For all past or present APPLICABLE IN CO, HI, NE, OH, OK, OR; IN DC, LA, ME AND VA, INSURANCE BENEFITS MAY ALSO BE DENIED)1.DOES APPLICANT DRAW PLANS, DESIGNS, OR SPECIFICATIONS4.DO YOUR SUBCONTRACTORS CARRY COVERAGES OR LIMITS2.DO ANY OPERATIONS INCLUDE BLASTING OR UTILIZE OR STORE5.ARE SUBCONTRACTORS ALLOWED TO WORK WITHOUTEXPLOSIVE MATERIAL?PROVIDING YOU WITH A CERTIFICATE OF INSURANCE?3.DO ANY OPERATIONS INCLUDE EXCAVATION, TUNNELING,6.DOES APPLICANT LEASE EQUIPMENT TO OTHERS WITH ORUNDERGROUND WORK OR EARTH MOVING?WITHOUT OPERATORS?1.DOES APPLICANT INSTALL, SERVICE OR DEMONSTRATE PRODUCTS?6.
PRODUCTS RECALLED, DISCONTINUED, CHANGED?4.GUARANTEES, WARRANTIES, HOLD HARMLESS AGREEMENTS?9.VENDORS COVERAGE REQUIRED?5.
PRODUCTS RELATED TO AIRCRAFT/SPACE INDUSTRY?10.DOES ANY NAMED INSURED SELL TO OTHER NAMED INSUREDS?10.IS THERE A SWIMMING POOL ON THE PREMISES?ANY REPRESENTATIONS ABOUT THE SAFETY OR SECURITYADDITIONAL INTEREST/CERTIFICATE RECIPIENTACORD 45 attached for additional namesCODE:SUB CODE:EFFECTIVE DATEEXPIRATION DATEPAYMENT PLANAUDITPREMISES #:BUILDING #:STREET ADDRESS:SUBJECT OF INSURANCEAMOUNTCOINS %VALUATIONCAUSES OF LOSSDEDUCTIBLEFORMS AND CONDITIONS TO APPLYADDITIONAL INFORMATION - BUSINESS INCOME/EXTRA EXPENSEBUSINESS INCOME W/O EXTRA EXPENSEEXTRA EXPENSEHYDRANTFIRE STATFTMIFIRE DISTRICT/CODE NUMBERPROT CL# STORIES# BASM'TSYR BUILTTOTAL AREATAX CODEROOF TYPEOTHER OCCUPANCIESHEATING BOILER ON PREMISES?YESNOIF YES, IS INSURANCE PLACED ELSEWHERE?YESNORIGHT EXPOSURE & DISTANCELEFT EXPOSURE & DISTANCEREAR EXPOSURE & DISTANCEBURGLAR ALARM TYPECERTIFICATE #EXPIRATION DATEEXTENTGRADE/Chemical Systems)% SPRNKFIRE ALARM EDTMPREMISES #:BUILDING #:STREET ADDRESS:SUBJECT OF INSURANCEAMOUNTCOINS %VALUATIONCAUSES OF LOSSDEDUCTIBLEFORMS AND CONDITIONS TO APPLYADDITIONAL INFORMATION - BUSINESS INCOME/EXTRA EXPENSEBUSINESS INCOME W/O EXTRA EXPENSEEXTRA EXPENSEHYDRANTFIRE STATFTMIFIRE DISTRICT/CODE NUMBERPROT CL# STORIES# BASM'TSYR BUILTTOTAL AREATAX CODEROOF TYPEOTHER OCCUPANCIESHEATING BOILER ON PREMISES?YESNOIF YES, IS INSURANCE PLACED ELSEWHERE?YESNORIGHT EXPOSURE & DISTANCELEFT EXPOSURE & DISTANCEREAR EXPOSURE & DISTANCEBURGLAR ALARM TYPECERTIFICATE #EXPIRATION DATEEXTENTGRADE/Chemical Systems)% SPRNKFIRE ALARM ED.
New basel accord
The New Basel Capital Accord, Basel II A Business Intelligence Perspective
A Whitepaper Prepared By Michle McCormac, Managing Director, Adastra Corporation, In Conjunction with MicroStrategy Incorporated
The New Basel Capital Accord, also known as Basel II, has sparked on-going discussion in the global financial institution sector on risk management, with volumes published on the formulae and risk modeling approaches that will be utilized to determine portfolio risk segments, operational risk levels, and the associated required capital allocation. What Is the New Basel Capital Accord (Basel II)?
At this time, the BIS hopes to finalize the accord by the middle of 2004 with full implementation by the end of 2006
The accord has three key pillars:
Pillar I outlines the specific methodologies and approaches to determine minimum capital requirements based on credit risk, market risk, and operational risk;2 Pillar II provides guidelines for supervisory review by local banking regulators;
What Is the Link Between Basel II and Information Technology? 1
for all official publications of the Basel II accord and related documents.2
Market risk capital allocation methodologies were covered in the first Basel Capital Accord, which was published in 1988 and adopted in 1992.
The Basel II accord does not provide for any significant changes to the market risk capital allocations for large international banks.V02042004 New Basel Capital Accord A BI Perspective
Page 1 of 3 What Do Banks Need to Do Now to Meet the 2006 Target for Basel II Compliance?
While the new accord requirements have not yet been completely finalized, there is sufficient information available for most large, internationally active banks to initiate Basel II projects, and many have been developing plans and strategies for some time.
In the US, banking regulators have agreed that the new accord will only be applied to a limited number of large, internationally active banks.
It is anticipated that this would apply to approximately six to ten banks in the US.
Additionally, the US regulators have indicated that any other bank that meets the qualifying internal and control infrastructure standards for risk management and reporting can apply to utilize Basel IIs advanced approach for capital calculation.
It is expected that another six to ten US based institutions will choose this qualification for competitive purposes.
In Canada, it is expected that the five to six large banking organizations will qualify for Basel II compliance.
In Europe, local regulators are developing domestic approaches, with input from the European Commission.
The current view is that Basel II will be applied to most European based banking institutions, with coverage of some elements also being applied to insurance and investment subsidiaries.
From an operational perspective, there are many areas where BI service providers can provide proactive assistance to their banking clients including:
Supporting development of the gap analysis and operational solutions to assess the additional data requirements that are not currently met through existing data warehouses; Identifying internal and external options for data capture; Determining and developing approaches to support the incremental data quality, data auditability, and data storage that will be required to meet Basel II compliance standards; Working with clients and local banking regulators to develop standardized reporting requirements; Developing checklists of reconciliation requirements (Basel II data to general ledger, Basel II data to financial reporting, etc); Ensuring the Basel II environment is integrated into the overall data warehousing architecture; Working with client groups to develop potential extraction, transformation, and loading (ETL) solutions where historic information may not be available for risk model testing, etc.
From a value added perspective, leveraging current data warehouses and consolidating reporting and analysis applications on a unified BI architecture as the foundation for Basel II compliance, will provide impacted banks with an ability to:
Maximize previous data management investments; and
Ensure they are moving towards the objective of providing consistent management information across the enterprise.
V02042004 New Basel Capital Accord A BI Perspective
Page 2 of 3The focus on data integrity, and the need to provide regulatory and market transparency in conjunction with Basel II compliance will raise the data quality standard for all of the organizations BI solutions.
Finally, the organization will leverage existing BI investments, provided that the BI architecture scales to large volumes of data, accommodates large user bases, and provides for distributed access to the complete range of reports and analysis that will be required by Risk Management Groups, Finance, Business Line Management, Senior Management, Audit and Local there are many operational details yet to be finalized before Basel II is considered to be a completed agreement, the key elements are sufficiently clear to initiate development of the business plan and associated project plan.
This would include sizing of the activities to develop the functional data management environment (including a full data gap analysis) and establishing the key data reconciliation and control processes.
While external reporting requirements may not yet be completed, internal stakeholders can initiate development of their reporting requirements and the project teams can develop options to ensure full integration of reporting across the corporate entity.
Options can be developed that will support the data audit requirements that are likely to be specified by local regulators.
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