(a) The adequacy of the licensee's pricing structure;

(b) The volatility of sales volumes (e.g. the risk of poor underwriting from over-rapid expansion);

(c) The uncertainty of claims experience (and the length of the claims 'tail');

(d) The share of premium paid to intermediaries;

(e) The adequacy of the coverage of the reinsurance programme;

(f) The impact of the licensee's inability to secure renewal of part of its reinsurance at acceptable terms or at all;

(g) The risk of unintended risks claims being covered (or not excluded) by policy wordings; and

(h) The risk of mis-selling, for example, the number of complaints or disputed claims.