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GRANDIA II 2 World Guidance official illustration art book
GRANDIA II 2 World Guidance official illustration art book
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Tales of Xillia Official World Guidance Art Book JAPAN ps3
Tales of Xillia Official World Guidance Art Book JAPAN ps3
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★RADIANT HISTORIA - official world guidance★
★RADIANT HISTORIA - official world guidance★
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Armored Core Mechanical Guidance official data art book
Armored Core Mechanical Guidance official data art book
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tactics Official Guidance Book Sakura Kinoshita OOP
tactics Official Guidance Book Sakura Kinoshita OOP
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Tales of Xillia Official World Guidance Bandai Namco Games Books Japan 2011
Tales of Xillia Official World Guidance Bandai Namco Games Books Japan 2011
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Radiant Historia Official World Guidance Japan book 2011
Radiant Historia Official World Guidance Japan book 2011
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TALES OF XILLIA Official World Guidance Poster Card Art Book Japan FREESHIP NM*
TALES OF XILLIA Official World Guidance Poster Card Art Book Japan FREESHIP NM*
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Official Table of Distances for the Guidance of Disburs
Official Table of Distances for the Guidance of Disburs
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Official Denial [VHS] Official Denial [VHS]
List Price: $79.95
Billy Jack Goes To Washington Billy Jack Goes To Washington

After Billy Jack in sentenced to four years in prison for the "involuntary manslaughter" of the first film, the Freedom School expands and flourishes under the guidance of Jean Roberts. The utopian existence of the school is characterized by everything ranging from "yoga sports" to muckracking journalism. The diverse student population airs scathing political exposes on their privately owned television station. The narrow-minded townspeople have different ideas about their brand of liberalism. Billy Jack is released and things heat up for the school. Students are threatened and abused and the Native Americans in the neighboring village are taunted and mistreated. After Billy Jack undergoes a vision quest, the governor and the police plot to permanently put an end to their liberal shenanigans, leaving it up to Billy Jack to save the day.

This Means War [Blu-ray] This Means War [Blu-ray]
List Price: $39.99
Sale Price: $19.99

Hilarious action-comedy follows covert CIA operatives/best friends FDR (Chris Pine) and Tuck (Tom Hardy) as they discover that they are both dating sexy single Lauren (Reese Witherspoon). The guys use their government training and a variety of high-tech gadgets in an effort to outdo each other and win the hand of the beauty. With Chelsea Handler, Til Schweiger, Angela Bassett. 98 min. Widescreen; Soundtracks: English DTS HD 5.1 Master Audio, French Dolby Digital 5.1, Spanish Dolby Digital 5.1; Subtitles: English, French, Spanish; alternate endings; audio commentary; deleted scenes; extended scenes; alternate opening; gag reel; featurette; theatrical trailer; bonus digital copy. Also includes a DVD version of the film. Two-disc set.

Spy flick meets romantic comedy in this surprisingly entertaining film about two CIA agents who find themselves in competition for the affections of the same beautiful woman. Agents FDR (Chris Pine) and Tuck (Tom Hardy) are accustomed to using whatever means necessary to complete a mission--and that mentality has a tendency to bleed over into their personal lives. The two agents are also close friends, so when they discover they're both dating Lauren (Reese Witherspoon), they enter into a gentleman's agreement that stipulates they not interfere with one other, allow Lauren to choose the best man for her, and walk away from Lauren if seeing her begins to affect the men's friendship. The agreement quickly degenerates into a pissing contest of epic proportions thanks to the men's competitive natures and the arsenal of government resources at their disposal. Oblivious to the rivalry and the high-tech circus going on around her, Lauren desperately tries to figure out which of the two men is right for her. Her married friend Trish (Chelsea Handler) offers plenty of advice, assuring Lauren that just because she's dating two guys at the same time, "You're not going to hell, but if you are, I'll be there to pick you up." What makes this film so good is its perfect blend of high-action spy caper, laugh-aloud humor, and romance--all skillfully delivered by a talented cast. --Tami Horiuchi

Ghost Rider: Spirit of Vengeance (+ UltraViolet Digital Copy) Ghost Rider: Spirit of Vengeance (+ UltraViolet Digital Copy)
List Price: $30.99
Sale Price: $19.96

Ghost Rider Spirit of Vengeance - Nicolas Cage returns as Johnny Blaze - still struggling with his curse as the devil's bounty hunter - is hiding out in a remote part of Eastern Europe when he is recruited by a secret sect of the church to save a young boy (Fergus Riordan) from the devil (Ciaran Hinds). At first, Johnny is reluctant to embrace the power of the Ghost Rider, but it is the only way to protect the boy - and possibly rid himself of his curse forever.

Suits: Season One Suits: Season One
List Price: $44.98
Sale Price: $25.98

The new original series Suits delves into the fast-paced, high-stakes world of a top Manhattan corporate law firm where hotshot attorney Harvey Specter (Gabriel Macht, "Love and Other Drugs") makes a risky move by hiring the brilliant but unmotivated, Mike Ross (Patrick J. Adams, Lost), as his new associate. The only problem is he doesn't have an actual law degree. With his encyclopedic knowledge and uncanny knack of remembering things, Mike proves to be a legal prodigy despite the absence of bonafide legal credentials.  Bound by their secret, the two are forced to keep up the charade as they become an irrepressible duo. The series also stars Meghan Markle (CSI Miami), Gina Torres (Gossip Girl), Sarah Rafferty (Brothers and Sisters) and Rick Hoffman (Samantha Who).   This 3-disc set features all 12 Season One episodes of Suits, the hit show that critics are hailing as, "crisp, clean and perfectly tailored" (TVFanatic.com). Starring: Gabriel Macht, Patrick J. Adams, Gina Torres, Rick Hoffman, Meghan Markle, Sarah Rafferty

Clarion VZ709 7-Inch Single-DIN Multimedia Station with Touch-Panel Control and USB Port Clarion VZ709 7-Inch Single-DIN Multimedia Station with Touch-Panel Control and USB Port
List Price: $999.99

Clarion's VZ709 is a premium, single-DIN DVD multimedia and navigation-ready unit equipped with a motorized 7-inch QVGA LCD display and touch-panel control. Enjoy DVD and DivX video playback, built-in Bluetooth for hands-free calling and audio streaming, iPod direct control via USB, and plenty more. Add an XM Mini-tuner, navigation system, rear-view camera, external amps and more with easy expansion options. A premium, single-DIN DVD multimedia and navigation-ready system. Click to enlarge. High-Resolution QVGA Display The fully motorized, 7-inch touch panel display features an intuitive graphical user interface for operation of your iPod, Sirius Satellite Radio, CD and DVD playback, including full access to DVD menus. The QVGA LCD screen offers high resolution viewing for DVDs as well as AUX connected sources. When not in use, the display folds safely back into the chassis. 24-Bit D/A Converter for Superb Sound Reproduction Fully enjoy the sonic impact of DVD movie soundtracks or music videos. 24-bit technology actually oversamples the digital signal, providing excellent results that just weren't possible with older 16-bit systems. Navigation RCA Video Input Add the NP509 hideaway navigation system to upgrade to a car navigation system at any time. Count on voice guidance messages and high-resolution map displays to get you safely to your destination, complete with touch-panel control. Built-in Bluetooth for hands-free calls and music streaming. Direct iPod control via USB. Just connect using your standard iPod cable. Custom backgrounds to suit your taste or your car's color scheme. Add a rear view camera for safety and convenience. Media Versatility Play back your DVDs (including burnt DVD-R/RWs and DVD+R/RWs) and CDs (CD-DA and CD-R/RWs too). You can also enjoy MP3/WMA/AAC files burnt to disc. ID3 tags such as artist and song info are displayed on the unit's screen. The VZ709 is also an official DivX Certified Product, and plays all versions of DivX video (including DivX 6) with standard playback of DivX media files from disc or USB. Finally, easily dial in your sound with the three-band Parametric Equalizer and MAGNA BASS EX Dynamic Bass Enhancement. AM/FM Radio Catch up on the news or listen to your favorite stations. Get quick access to your favorites with 18 FM and 6 AM station presets. AV Input/Output Use external devices (such as video game systems, etc.) using the rear AV input. Or, add a second monitor in the back seat using the AV output. Room to Grow With 50 Watts through four channels, and a 24-bit D/A converter, the VZ709 gives you great sound to start. But it also includes 6 channels of preamp output, two channels of RCA output for 2-Zone, and a subwoofer volume control, so you can easily add external amplifiers and build a monster system. You can also add a rear vision camera for a bit more safety and convenience. Remote Included A full-featured remote control is included. The VZ709 is also OEM steering remote ready, if you'd prefer control right at the helm. Built-in Bluetooth With Bluetooth built-in, you can wirelessly connect your Bluetooth capable mobile phone to listen to calls through your car's audio system. Audio streaming is also possible with compatible devices. HFP/OPP/A2DP/AVRCP protocols are supported. iPod Direct Control via USB Just connect the USB cable that's included with your iPod to the source unit's USB input to control your iPod from either side. The same USB terminal can also be used to connect a USB memory device with digital music files stored on it. Built-in HPF and LPF The internal High Pass and Low Pass filters allow your music to be played at the precise levels that they were meant to be heard. Enjoy bass with more muscle and highs with more clarity. 3-Band Parametric Equalizer The entire sound spectrum is separated into high, medium and low ranges. The level of each can be adjusted separately. Customize the sound to suit your taste and your car. Dedicated Rear vision Camera RCA Input Dedicated Rear vision Camera input is equipped. It enables you to see the area behind your vehicle. The increased view encourages and facilitates safer driving (optional CK625E required). XM Universal Mini-Tuner Add the portable XM universal tuner to bring your subscription so you can enjoy XM satellite service anywhere you go. 4 Preset Wallpaper Designs Background patterns of the navigation system and audio & video sources can be customized to suit your taste or your car's color scheme. What's in the Box VZ709 Main Unit, Power Supply Cord, Remote Control Unit, Battery, Installation Hardware, Finishers, Owner's Manual, Installation Manual

CLARION VZ709 7" Single DIN Multimedia Station with Touchscreen & DVD

Clarion VZ509 7-Inch Single-DIN Multimedia Station with Touch-Panel Control and USB Port Clarion VZ509 7-Inch Single-DIN Multimedia Station with Touch-Panel Control and USB Port
List Price: $799.99

CLARION VZ509 7" Single DIN Multimedia Station with Touchscreen & DVD

The VZ509 offers sleek styling in a one DIN source unit, equipped with a multitude of multimedia and navigational capabilities. Featuring a 7-inch flip-out touchscreen and Clarion's intuitive Human Machine Interface (H.M.I.), it's a pleasure to use. The VZ509 features DVD video, DivX, CD/MP3/WMA/AAC playback, direct USB iPod control and more. Add Clarion's NP509 hide-away memory navigation system for full GPS navigation with control via the touch-screen. A multitude of multimedia and navigational capabilities. Click to enlarge. iPod USB Direct for playback through USB cable provided with iPod. USB Connector supports playback of WMA/MP3/AAC files. 6-channel Output for superior system expandability and versatility. Get wirelessly connected using optional BLT370 Bluetooth transceiver. Motorized 7-Inch LCD The VZ509's high-resoution, 7-inch TFT color LCD is fully motorized, and folds safely into the unit when not in use. You can adjust the display brightness to your liking, and this is where you control almost all of the unit's functions. New Graphical User Interface With a lion's share of functions controllable from VZ509 touch panel, there are only 4 physical buttons to deal with. Operation is streamlined, simplified, and beautifully enhanced with the high-resolution on-screen display. New Graphic IC By incorporating an integrated video IC, on-screen graphics switch more quickly and smoothly, and usability has been enhanced by allowing touch panel operation even while a video image is being shown in a small window. Navigation Touch Panel Operation The NP509 hide-away navigation system can be connected to the VZ509 directly and controlled through its touch panel. So with this multimedia station, you can upgrade to a car navigation system at any time. Count on voice guidance messages and high-resolution map displays to get you safely to your destination. Media Versatility The VZ509 gives you plenty of options. Play back DVD-Video, DVD+/-R, DVD+/-RW, CD, CD-DA, and CD-R/RW discs withe ease. Or if you'd prefer, access your digital media library, and play back MP3/WMA/AAC files from disc or USB. ID3-tag info like artist or track is displayed on screen. The VX509 is also an official DivX Certified Product, and plays all versions of DivX video (including DivX 6) with standard playback of DivX media files from disc or USB. Direct USB iPod Control Just connect the USB cable that's included with your iPod to the Clarion head unit's USB input and you get complete control over your favorite music including iPod ABC Search, using iPod's control wheel. And by connecting the iPod to VZ509 via optional CCA723 cable, it will be possible to enjoy iPod Video on the VZ509's monitor screen. Please see the Clarion website for iPod models that can be connected. Advanced Technologies for Sound Satisfaction BBE MP (Minimized Polynomial Non-Linear Saturation) Process improves digitally compressed sound such as MP3/ WMA/AAC by restoring the harmonics that are lost through compression. What's more, Beat EQ's 3-band parametric equalizer helps you customize your sound, while Magna-Bass EX boosts ultra-low frequencies so you can enjoy more solid bass performance. AM/FM Radio Catch up on the news or listen to your favorite stations. Get quick access to your favorites with 18 FM and 6 AM station presets. AV Input Use external devices (such as video game systems, etc.) using the AV input. Room to Grow With 50 Watts through four channels, and a 24-bit D/A converter, the VZ509 gives you great sound to start. But it also includes 6 channels of preamp output, two channels of RCA output for 2-Zone, and a subwoofer volume control, so you can easily add external amplifiers and build a monster system. You can also add a rear vision camera for a bit more safety and convenience. Remote Included A full-featured remote control is included. The VX509 is also OEM steering remote ready, if you'd prefer control right at the helm. Bluetooth Interface Ready Add the optional BLT370 for hands-free calling in your vehicle. SAT Radio Ready Purchase an add-on adapter and easily add satellite radio to your entertainment options. What's in the Box VZ509 Main Unit, Power Supply Cord, Remote Control Unit, Battery, Installation Hardware, Finishers, Owner's Manual, Installation Manual

Radiant Historia Radiant Historia
List Price: $29.99
Sale Price: $27.99

Radiant Historia is a single player turn-based RPG for play on Nintendo DS and DSi. Channeling the heart and soul of fan favorite 16-bit RPG classics, Radiant Historia combines a unique position-based three-party battle system, unique time travel abilities, intricate hand-drawn details and one of the best soundtracks in recent memory as it takes gamers on a steampunk adventure back and forth through time. Battle and traverse the crossroads of time in Radiant Historia. View larger. Story The kingdoms of Alistel and Granorg are at war. As a result, terrible things have happened and will continue to happen - things that may even threaten the fabric of the overarching world of world of Vainguer. This war must be won, ended, or both and Stocke is the one chosen to make it so. Stocke is an agent in the Special Intelligence division in the kingdom of Alistel. Beyond his skill with a blade, he is entrusted with a miraculous tool, the White Chronicle. This amazing book allows him to see beyond the present into other times. Combined with the help of two unforeseen allies, the White Chronicles eventually allows Stocke to actually travel through time to change things that should never have been and channel history into the path that it was meant to unfold. Gameplay Radiant Historia is a single player, turn-based RPG with action that revolves around a 3-party battle system and time travel abilities. Battles occur whenever enemies are encountered and play out over a three square grid system. The closer an enemy is to a player controlled character(s) the more damage that is possible in an attack(s). Beyond simply overwhelming enemies one by one, players can also manipulate individual enemy positions so that multiple enemies occupy the same space and can thus be attacked at the same time by party members. Successful combo attacks of this nature can net your party bonus gold and experience points. With a sufficient power build up each party member can also unleash special Mana Burst attacks which offer unique benefits in battle. Objectives that can not be achieved through battle may be available through the game's time travel functionality and the accessibility of parallel universes. By going back and forth in time and visiting other universes players can change events and historical choices that may alter conditions in the present and or future. The result of this can be multiple possible parallel game endings and maximum replay value. Key Game Features Restore the True History - With the power of the White Chronicle, the crossroads of time is yours to traverse. Jump back and forth across various turning points in history in order to save your world from destruction. Your Choices Matter - Difficult decisions face you at every turn. Who will you side with? Who will you choose to help? Your choices progress the story and bring you to drastically different ends. Return to previous choices to initiate changes whose effects ripple throughout the timelines. Classic Turn-Based Combat - Take your party of three warriors into combat, battling enemies within range of your 3x3 grid. Push Your Foes Around - Use the turn order and your special ability to manipulate the positions of enemies on the field to set up combination attacks and gain the upper hand. Flexibility in Combat - Change allied character's positions on the board when it best suits the situation to level the most damage possible against enemies. Additional Screenshots Explore the lands of Vainguer. View larger. Travel through time. View larger. Position-based battle system. View larger. Talk to fellow travelers. View larger.

Radiant Historia w/ Music CD DS

Gruber's Complete SAT Guide 2012, 15E Gruber's Complete SAT Guide 2012, 15E
List Price: $19.99
Sale Price: $11.05

Proven methods for Smarter StudyingUnique Diagnostic Test Shows You Why You Got Questions Wrong-and How to Get Them RightThe Gruber 150,000-Word Vocabulary BuilderInside Info on How SAT Questions Are CreatedStudent-Praised Writing, Vocab, Math, and Critical Reading Sections5 Full-Length SAT Practice TestsEFFECTIVE STUDY TOOLS THAT ARE ACTUALLY FUNThe 101 Most Important Math Questions You Need to Know How to SolveThe World's Shortest SAT Test (18 Questions)The Most Important SAT WordsProven Strategies for Solving Problems QuicklyTons of Practice SAT Questions, Each Question Explained in Detail and Linked to a Gruber Strategy for Enhanced SkillWhat the Media is saying"Gary Gruber is the most prominent guru of SAT preparation."-Chicago Tribune"His methods make the questions seem amazingly simple to solve."-Library Journal"Dr. Gruber knows the ins and outs of the SAT."-Los Angeles TimesWhat Students, Parents, and Educators Are Saying"The work that Gary Gruber does should be given to every student and every teacher."-Dr. Shirley Thornton, former deputy superintendent, California State Department of Education"I've gone through almost all the SAT books I can get ahold of, and so far the best is Gruber's SAT book. I wish I could have found it earlier."-Online review"With the aid of your books, my scores improved so dramatically that I am now anticipating acceptance into schools that I was reluctant to even apply to."-Lauren Frasciello, Princeton, New Jersey"In regards to the breadth and quality of material offered, the difference between Gruber's and other publications is quite astonishing. Indeed, only Gruber's deserves the highest recommendation in SAT preparation."-Online reviewGet the Skills that Unlock the AnswersWith the explanation to a question, you can answer that one question. With the Gruber strategies, you can answer thousands of questions! These strategies show you how to think about problems instead of trying to solve each one individually and can be used consistently on every SAT test.Use the Most Trusted MethodsMore schools use Dr. Gruber's books for SAT courses than any other SAT books.PBS chose Dr. Gruber to train teachers nationally to improve the nation's SAT scores.National learning centers, state agencies, and state education departments have contracted with Dr. Gruber to improve SAT scores and critical-thinking ability.Dr. Gruber's strategies were chosen as the core for the revolutionary prep software that adapts to your strengths and weaknesses at MyMaxScore.com.Everything You Need to Study to Get the Top ScoreFive Full-Length SAT Practice TestsAn Extensive Vocabulary BuilderAdvice on Tackling the Essay SectionEssential Strategies for Writing, Vocabulary, Math, and Critical ReadingAnd Everything Else You Need

The FBI Career Guide: Inside Information on Getting Chosen for and Succeeding in One of the Toughest, Most Prestigious Jobs in the World The FBI Career Guide: Inside Information on Getting Chosen for and Succeeding in One of the Toughest, Most Prestigious Jobs in the World
List Price: $15.00
Sale Price: $7.00

"In the three years following the September 11th, 2001, terrorist attacks, the Federal Bureau of Investigation hired 2,200 new Special Agents. But that was out of more than 150,000 applicants, and you can be sure the successful candidates had not only relevant backgrounds, but also determination and a genuine desire to embark on one of the most coveted, rewarding, and challenging careers in the world. The FBI Career Guide spells out exactly what the Bureau is looking for in Special Agent candidates, and how to maximize your chances of being selected from the huge applicant pool. Joe Koletar, whose own blue-ribbon career at the Bureau is second to none, shows how to get the job-and how to thrive once you've got it. His inside look at the real FBI reveals: * Smart educational and career decisions to improve your odds of being hired * How to meet and network with current FBI agents * What Special Agents do, day-to-day, in different roles and environments * How undercover investigations, SWAT team operations, and specialty assignments work * What agents earn, and what benefits they receive * The prospects for advancement, and some typical (and not so typical) career paths * How the job may affect your personal and family life And much more The FBI Career Guide also reveals the common mistakes applicants make, and shows how to avoid them. And it gives you detailed information on excelling in the Agent Training Program. Finally, the book offers profiles of real agents who have gone on to successful post-FBI careers, and will help you lay the groundwork for a rewarding life after the Bureau. Above all, The FBI Career Guide will help you find out if you've got what it takes to succeed -- and if you do, how to show it."

The Real Spy's Guide to Becoming a Spy The Real Spy's Guide to Becoming a Spy
List Price: $17.95
Sale Price: $10.00

Created by the founding executive director of the International Spy Museum, who is also a former operative in the CIA’s Clandestine Service, this is the official handbook for kids who dream of one day becoming a spy or working in the intelligence field. Have you ever wondered what spies really do. What kind of training is involved? Do you have to go to a special school or take a polygraph test? How do you live your “cover”? How does your work life affect your relationships with your friends and family? Is there danger involved? This fascinating, fact-filled book answers these questions and more while providing a historical timeline, definitions of key terms, suggestions for further reading, an index, quizzes, and exercises to see if you have the right spy stuff. F&P level: V

Tom Clancy's Rainbow Six (Mac) Tom Clancy's Rainbow Six (Mac)
List Price: $49.99

Action rules the day as you lead an elite, multinational strike force and engage enemies in exotic locales, such as a decaying mansion in the Congo, a Paris theme park, and a North Sea drilling platform.

Mega airport London Heathrow Mega airport London Heathrow
Sale Price: $20.00

Developed by the well known Simwings-Team this package contains the Mega Airport London-Heathrow including the brand new Terminal 5. Discover an exquisitely true to original atmosphere! Simwings did have the BAA as an official partner for this project, which makes it as realistic as can be with a foresight in to the future. Using up-to-date 3D files for many buildings according to BAA plans to include even the newest (and some in real life still under construction) layout and buildings. There is no doubt this product is one of the most detailed and precise major airports scenery ever done (still with excellent frames), but as Simwings have shown in the past, it is not only these technical details that make a great scenery, it is also the fact that they make an airport come to life in the simulator. If you like big airports this is one you simply can't miss. All docking guidance systems of the real Heathrow airport are rebuilt Dynamic scenery. Some static aircrafts (low polygon models) as an option Fully AES 1.91 compatible (FS2004 version ONLY) High-resolution ground and object textures (and normal textures as an installer option for older graphic cards)

Kendo Instruction Guidance VHS Official Fundamentals Kendo Instruction Guidance VHS Official Fundamentals
List Price: $79.95

This official All Japan Kendo Federation video deals with "Rei-ho" and basic movements that are essentila to instructors for improved instruction and to beginners for effective study of Kendo.


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Official Guidance

Premium Deficiency Reserves-Inconstancies in Practice

At a basic level a premium deficiency exists when unearned premium and expected future premium are not sufficient to cover future estimated losses, loss adjustment expenses, policy acquisition costs and maintenance costs. In other words, a premium deficiency reserve is required if you expect a net loss in future periods for the particular policy, line of business, segment or company that has already been written.
Divergence in practice have evolved regarding at what level one should apply their analysis and which method should be used to calculate any resulting reserve. Should one look to the policy level, and perform a review of multiple contracts or do one high level review? Once you determine you have a premium deficiency how should you calculate the premium deficiency reserve?

To answer these questions we first have to understand the theory and guidance relative to premium deficiency reserves. We will also look quickly at how practices have evolved over time in different segments of the insurance industry.

Guidance on Premium Deficiency Reserves
Generally Accepted Accounting Principles (“GAAP”) and Statutory Accounting Principles (“SAP”) are fairly consistent in their definitions of premium deficiency reserves. The general premise is that a premium deficiency reserve is required when unearned premium at a specific balance sheet date would be insufficient to cover expected future losses and loss adjustment expenses. Under GAAP one also considers the amortization of deferred policy acquisition costs and maintenance costs. As acquisition costs are expensed as incurred under statutory guidance they are excluded from a statutory analysis of premium deficiency. In practice we recommend that companies begin analyzing for premium deficiency when loss ratios exceed 90%.
In theory traditional recognition of premium and losses under GAAP and statutory guidance rely on the concept of matching. Both GAAP and SAP defer future income and attempt to recognize the income during the same period as associated future losses. However, when future losses are expected to exceed premium such losses must be accrued for when determinable. This concept of accruing for losses when they are detainable creates the need for premium deficiency reserves.

Premium Deficiency Reserves in Practice
In order to understand premium deficiency reserves fully it helps to understand the industries in which they are more commonly found. Industries such as life insurance, mortgage guarantee insurance and warranty insurance are typically required to analyze for premium deficiency reserves. These industries normally collect premium monthly to cover losses incurred during the associated period. In such industries unearned premium is minimal due to the premium earning cycle. Additionally, losses are not recorded until actually reported, as claims not yet reported are considered to be associated with future premium payments received. In order to determine premium deficiency reserves in these industries actuaries have historically performed projections of expected future premium. The present value of expected future premium inflow was than measured against the present value of expected future claims and applicable costs to determine the need for premium deficiency reserves.

While more frequent in lines of business with long-term contractual commitments such as life, warranty and mortgage guarantee insurance we have seen an increase in premium deficiency questions and recognition due to the current soft market. We have also noted a divergence in practice in the area of premium deficiency measurement in companies with multiple lines of business and operating companies.

Premium Deficiency Measurement
Statutory and GAAP guidance both state that an insurance contract should be grouped in a manner consistent with how policies are marketed, serviced and measured. GAAP guidance adds that contracts should be grouped using the same method as a company uses to measure profitability of its insurance contracts. While these definitions appear to be clear and concise there has been much debate regarding the specific language for contract groupings.

Extremes in practice have gone from using the total amount from the NAIC Annual Statement (creating one group and one PDR projections) to policy groupings based on each policyholder (creating one projection per customer). The most common form of grouping we have encountered is found between these extremes, grouping applied by line of business or legal entity.

In practice we have found that GAAP entities generally consider grouping on a consolidated entity basis and statutory entities generally group on a legal entity basis. Therefore a company with twenty legal entities writing two lines of business may end up with twenty individual analysis under statutory guidance and two under GAAP.

The level of grouping matters because of different rules regarding offsets between groups versus within a group. As stated in SSAS 53, “Deficiencies shall not be offset by anticipated profits in other policy groupings.”  A PDR can go no lower than zero for a particular group and therefore a negative indicated reserve for one group does not offset a positive indication in another group. However, unlimited offsetting is allowed within a group. Therefore, one group means unlimited offsetting and a lower PDR and multiple groups mean limited offsetting and a higher PDR.

We believe that groupings will continue to vary from company to company; however, we recommend that companies base their measurement decisions on the guidance provided and clearly document their reasoning for their application. One item to consider is that policies grouped together by large insurance carriers may be very different than the policy grouping for smaller insurance companies or captive insurance companies. This is easily illustrated by looking at the three consideration areas of marketing, servicing and measurement and contrasting them between a large nationwide home and auto carrier and comparing them to a small home and auto carrier in the North East.

A nationwide home and auto carrier may group all of New England together as one market circle if their pricing and marketing strategy is consistent by geographic area. They may also service policies based upon the same geographically determined market circles. Servicing of proof of loss, eligibility determinations, billing processing and claims processing may be organized geographically by regional headquarters.

However, a small home and auto carrier in the North East may elect to build a market niche by focusing on a specific risk such as farms, vacation homes or mobile homes. It would follow that they may organize departmentally into silos serving each market niche. Each company’s business model is different so their grouping for a PDR analysis should also be differ.

Calculating the Premium Deficiency
Once an analysis determines that there is a premium deficiency for a specific group of policies, one has to determine the value of the projected premium deficiency reserve. Doing so involves the actuarial determination of future claim costs, and premium inflows. There is no official guidance on what actuarial method should be used to calculate the anticipated investment income that may be included in the premium deficiency test.  As a result, there are varying industry practices. The two primary methods used in practice are the expected investment income approach and the discounting approach. The expected investment income approach computes anticipated investment income on all of the cash flows generated by current in-force contracts. The discounting approach discounts expected future payments for claim costs, claim adjustment expenses and maintenance costs. Both methods incorporate the time value of money into the calculation of the premium deficiency reserve.

Final Thoughts

Statutory and GAAP guidance does not define a consistent method of measuring and calculating premium deficiency reserves. In fact, guidance allows flexibility and judgment in application of policy grouping and calculation methods utilized. Whichever approach taken, the company should clearly document their reasoning and justify the selection of groupings and calculation methodology based upon applicable statutory and GAAP guidance. To avoid the possibility of audit adjustments and post close fire drills we recommend that companies with loss ratios over 90% implement a well documented and consistently executed policy for determining a premium deficiency reserves. Doing so will greatly reduce inquires from your auditors and regulators.

About the Author

Joshua Partlow, CPA is a Principal in the Vermont office of Johnson Lambert & Co. LLP were he specializes in the alternative risk practice. Dana Fleming, CPA is a Senior Manager in the Jacksonville, Florida office of Johnson Lambert & Co. LLP.

I've been training MMA privately and would like to have an official fight. Anyone know where to turn?

I live in NJ. I'm ready to fight but don't have a connection to a local league or anything, and am having trouble getting good info on the web. Some guidance here will be appreciated. Thanks...

if you don't have a coach who has a clue then how do you think your ready

New Guidelines Announced to Improve Trials
Research: The quality of reports of randomized trials in 2000 and 2006: Comparative study of articles indexed in PubMedNew guidance to improve the reporting of trial findings is published simultaneously today (24 March 2010) by the BMJ and eight other leading journals around the world.Full and transparent reporting of trials is crucial to ensure that decisions about health care are based on the ...

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