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Competition Time!
1. REGULATIONS RELATING TO THE INSURANCE INDUSTRY
Edition5
HHHEEEEEELLLLLPPP ?!
What’s with all these acronyms! Are you as confused as we are?
For this edition we will have a bit of fun and introduce an ‘educational’ competition.
Below is a list of 20 acronyms commonly used within the insurance industry. You just
need to replace our comments with the correctFULL NAMES. The first three correct
entrants (or nearest three) will each win a prize … now isn’t that a great incentive.
Your answers must be emailed to marketing@emeraldsa.co.za by Friday23th March and
winners will be announced by Tuesday 27th March.
NB: T&C’s apply - Judges decision is final in all matters and prizes need to be collected
at Emerald’s offices.Be careful, some of our comments/clues may lead you astray.
ACRONYM FULL NAMES
SAM Who is he/she?
FAIS Are you fazed about this?
CEIOPS No, this is not the one-eyed monster!
UPP Come on, this one is EASY
DAC Just a little bit harder
OCR Technical in nature
IBNR Ditto… methinks we are making this too easy
FSB Local is lekker!
STI Not something in your eye
TCF All’s fair in love and war!
GWP Your answer should be written down
IFRS If’s an illusion?
UMA A shortened version of Ouma Rusks?
PoP SOME of you may find this one a little harder.
MCR Basel II provides a clue
SCR Look above and below and you will know
BSCR Capital is key
CAR Not a means of transport
RIWP Ergo
NEP IS related – an acronym to explain an acronym?