reinsurance commission

A quota share treaty is a pro rata reinsurance contract in which the insurer and reinsurer share premiums and losses according to a fixed percentage. Pricing: Pricing for proportional reinsurance generally follows the original policy pricing. “Fund”) established by Indiana Code § 27-7-9-7. Found inside – Page 374Ceding Commissions To compensate the insurer for its expenses in producing the business, the reinsurer pays a ceding commission that can be defined as a (i) ... Reinsurance Commission 53 Reinsurance RI Commission is an amount allowed by the, Calculate the expected Profit Commission assuming, allows ceding company to share part of reinsurers profit. Pokažite algoritamski generirane prijevode. To view or add a comment, sign in, Well done. Matične. Found inside – Page 291Fixed and variable commissions On the basis of the historical interpretation of the reinsurance commission as reimbursement of the direct insurer's expenses ... • Price, profits, commission, credit, or other terms or conditions of any products to be offered for sale. In respect of Commission on Original Net Rate this will be called as Overriding Commission. Found inside – Page 95Credit the account with all traveling expenses returned and any other sum connected with loss expenses which have been refunded . 10. Commissions : -Debit this account for all commissions , brokerage to agents and reinsurance commission ... The mission of the New Hampshire Insurance Department is to promote and protect the public good by ensuring the existence of a safe and competitive insurance marketplace through the development and enforcement of the insurance laws of the State of New Hampshire. “The particulars of reinsurance treaty shall specify the material information in the treaty, such as, but not limited, to the limits, retention, cession, period, commission premium reserve, interest reserve and special clauses limiting the reinsurer’s liability or … Some reinsurance agreements facilitate premium growth by allowing the primary insurer to deduct a ceding commission on loss exposures ceded to the reinsurer. On the basis of a reinsurance commission of say 30%, the premium flows from the cedant to the reinsurer are shown in Diagram 2. April 14, 2021 — Chubb European Group SE, an insurance company from France, has applied to become a Certified Reinsurer in the State of Utah. The CHRP is designed to increase affordability in the individual health care insurance market with a goal of decreasing premiums. Quota- Alexandra Twin has 15+ years of experience as an editor and writer, covering financial news for public and private companies. Insurance company’s typical Settlement Process for Property Damage: Normally, the claims is divided into three parts, which is defined as: operations, which is small (relative to major loss), International Financial Reporting Standards. • Reinsurance ceded under IFRS 17 is more complicated for a number of reasons: – Existence of positive/negative CSM for profitable/loss-making reinsurance. The offers that appear in this table are from partnerships from which Investopedia receives compensation. reinsurance transaction if the transferor's obligations are extinguished as a result of the transaction.20 The reinsurer in an assumption reinsurance arrangement amortizes the ceding commission over 15 years.21 The reinsurer in an indemnity reinsurance contract deducts the ceding commission.22 Found inside – Page 163This argument , on the surface , is valid and is exacerbated by the market's fierce competition for reinsurance commission revenues . Calculate the expected Loss Participation assuming, loss participation for loss ratio between 83% - 120%. With reinsurance, the company passes on ("cedes") some part of its own insurance liabilities to the other insurance company. The allowance of the Ceding Commission shall be taken into account in calculating the Net Ceded Premium payable to the Reinsurer pursuant to Section 3.01. The Profit Commission could be seen as an incentive from the reinsurer to the Ceding Company that consists in paying back a part of the Treaty profitability. The issues is the proper recording of the liability/asset and expense/revenue from the contingent commission clause in the reinsurance treaty. The sliding commission fee will decrease as the loss ratio increases. A surplus share treaty is reinsurance in which the ceding insurer retains a fixed amount of liability and the reinsurer takes the remaining liability. Profit commissions are not guaranteed but stem from an agreed-upon formula between the insurance company and the reinsurance company. This is called a ceding commission , and covers administrative costs, underwriting, and … Yet, words like "treaty," "fac cert," "cede," and "bordereau," once their meaning is known, are no longer mysterious and are easily understood and put … Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech and strategic finance in top universities. Virginia’s ACA Section 1332 State Innovation Waiver. Another, somewhat more complicated, proportional treaty is known as "Surplus Share"; these are common on property business. Reinsurance treaties must be filed with the Office of the Insurance Commission on an annual basis. B. Reinsurance sidecars, conventionally referred to as "sidecars", are financial structures that are created to allow investors to take on the risk and return of a group of insurance policies (a "book of business") written by an insurer or reinsurer (henceforth re/insurer) and earn the risk and return that arises from that business. There are few other parameters to be taken into consideration if the accounting system is clean cut which would include portfolio premium and loss transfers. Associated Auto Insurers' Plan of South Carolina. The accepting company pays a commission to the ceding company on the reinsurance ceded. Documents Required of Insurance Companies/Reinsurance Brokers to Accompany Requests for the Certifications to be issued by the Insurance Commission relative to Foreign Exchange Applications for Remittance of Net Profits, Reinsurance Premia and Payment of Loss Claims. The Commission had concerns that the merger would have reduced choice for insurance companies since Aon and WTW are two of the three leading worldwide reinsurance brokers. S 177063 Dept. Add a Note. Utah PMN Posting. Thank you sir, as always your feedback is highly appreciated, You can’t download them, it’s on linkdein. Underwriting capacity is the maximum amount of liability that an insurance company agrees to assume from its underwriting activities. The contract will also include effective dates where the agreement may renew or be restructured. Recording Issues. reinsurance: quota share (there is also a variant to this called variable quota share) and surplus share. Found inside – Page 248Petitioner also contracted to pay ceding commissions of $ 680,000 for the 1975 ... the ceding company pays a " reinsurance commission " to the l'einsurer in ... Reinsurance Waiver. Reinsurance commissions and profit participations are part of the Reinsurance balance (32 18 0). Found inside – Page 76Reinsurance and Hedge Funds : Hearing Before the Committee on Finance, ... This commission , known as a ceding commission , compensates the ceding company ... Found inside – Page 1375 The reinsurance company provides the conventional company and the Takaful operator with financial statements: reinsurance commission and reinsurance ... a. • Reinsurance, salaries, or any other cost components and elements. The ceding commission is an amount paid by the reinsurer to the primary insurer to cover part or all of a primary insurer’s policy acquisition expenses. commission 30% of reinsurance premium (6,000 x 30%) 1,800 Net amount Amount received from the cedant (reinsurance premium minus ceding commission) 4,200 20. Found inside – Page 71Commissions deducted: the reinsurer pays to the ceding company a contribution towards the acquisition costs which is called reinsurance commission. Sliding Scale—A provisional rate of commission is paid over the course of the agreement, with a final adjustment based on the experience of the business ceded under the agreement. reinsurance commission placement, placing uitwijzing niecny ןשוימ) ראית) da alături de aerodynamic taking into consideration, giving consideration (to), thinking custom (n.) tłumok приятел מחוקק smoulder (v.) If you have any questions or concerns, please contact Jay Sueoka with the Utah Insurance Department at (801) 957-9253 or by email at [email protected] no later than May 25, 2021. 76), ceded reinsurance premiums payable may be deducted from amounts due from the reinsurer, such as Reinsured A company that has placed reinsurance risks with a reinsurer in the process of buying reinsurance. The Objective is to balance the result of Reinsurance Treaty for both parties over time and they are usually paid in addition to the exiting commissions, Simplistic Definition of Profit is Income - Expenses, The profitability of a reinsurance contract is also determined using the same formula. At the end of year two, it is determined that the expected cash flows will … As you can see from the above exhibit that the profit commissions differ over a period of time, Please note the above exhibit is based on UW Year Basis Accounting. The reinsurer has to return 30% of its gross reinsurance premium (US$ 1,800) to the cedant as reinsurance commission, leaving a net reinsurance premium of 70% of the gross reinsurance premium (US$ 4,200) for the reinsurer. Mike Kreidler Insurance Commissioner. Recording Issues. 227). B. Balakrishnan Digital MF Investment Services thro' Mobile App. Solvency 2 is a harmonised prudential framework for insurance firms, introduced in 2009 to replace a patchwork of rules in the areas of. The Delaware Health Care Commission administers the program. What is a commission? Acquisition Costs All expenses directly related to acquiring insurance or reinsurance accounts; normally the commission paid to the reinsurance … Basic Reinsurance Accounting – Selected Topics October 2012 . Primjeri Dodati . Also known as CEDING COMPANY. The reinsurer will collect premium payments from policyholders and return a portion of the premium to the ceding company along with the ceding commission. Sliding Scale—A provisional rate of commission is paid over the course of the agreement, with a final adjustment based on the experience of the business ceded under the agreement. As an example, a ceding insurer may retain 60% of the premium and risk while ceding 40% away. Found inside – Page 20of interest earnings on reinsurance commissions is highest in long tail lines of business, were the time gap between premium and loss realizations and the ... Reinsurance is a method for insurers to spread the risk of underwriting policies by ceding some of their insurance policies to other, usually smaller, companies. Scale ARTICLE XI Commission A. not all treaties in assumed UoA transferred via reinsurance. In the Insurance and Reinsurance Industry, there are various commissions applicable to the Agreements dealt with. In this example, the ceding company uses a 60% quota share and keeps only 40% of paid premiums and covers only 40% of a claim. The key difference between ONR & OGR is the following, OGR - is Basically the Gross premiums ceded to the Re insurer without deducting the acquisitions costs / original commissions or any other deductions, ONR - is Basically the Net premiums ceded to the Re insurer less acquisitions costs / original commissions or any other deductions. reinsurance company to a ceding company to cover administrative costs, underwriting, and business acquisition expenses. In insurance, a fee or percentage of money which is paid by the insurer to an agent or general agent for premium volume produced by other agents in a given geographic territory. This figure is the total of all losses and expenses to underwrite a policy divided by the earned premiums. This preview shows page 53 - 63 out of 100 pages. • Greater certainty around impact of reinsurance on financial position - important due to … A. 76—Offsetting and Netting of Assets and Liabilities (Issue Paper No. RICHMOND –The State Corporation Commission (SCC) is taking steps to create the Commonwealth Health Reinsurance Program (CHRP), which would begin on January 1, 2023. The Reinsurer shall allow the Company a Ceding Commission equal to XX% (X percent) of Gross Reinsurance Premiums settlements, including associated interest from January … The items which will appear under the heading “Income” and “Expenses” need to be seen carefully and they are explained as follows, Exhibit of Profit commission calculation for Risk Attaching Treaties. Insurance companies base decisions and profitability on the combined ratio. /participate if loss ratio falls within a specified percentage. Insurance companies looking to reduce risk exposure through the use of reinsurance often enter into a proportional treaty, also known as a pro-rata treaty. Reinsurer: Reimburses the costs via commission Pays % of losses How do they work? An increase in reinsurance rates or a reduction in reinsurance commission This scenario considers situations where reinsurance action is systemic in nature, [...] due to the overall insurance environment. This ratio helps a company estimate if a particular reinsurance treaty is profitable. • Reinsurance accepted is relatively straightforward under IFRS 17 with limited changes in rules to direct business. utakmica svi točno bilo koji riječi . non-life insurance. reosigurateljna provizija Englesko-hrvatski-rjecnik. the percentage of claims on underlying insurance contracts the entity expects to recover from the reinsurance contract held. • Improved relationship between assumed and reinsurance treaties, albeit still some noise which can occur e.g. Found inside – Page 11445, 157 06 Deferred reinsurance commissions. . . . . . . . . . . . . . . . . . . . . . . . . 14,676 68 Workmen's Compensation Reinsurance Bureau. . . . . . . . . . . . . . 79, 781 94 Surety Association of America, $500; advances for ... Retentions were relatively high in those days and during the years following this first reinsurance agreement, more attention came to be paid to both the fundamentals and the practice of reinsurance. Maintaining and monitoring the portfolio for its performance, Commissions : 30% on OGR ( Original Gross Rate), Commissions : 30% on ONR ( Original Net Rate ), Premiums = $ 100,000 , Dedications = $ 10,000, Commissions of 30% would be 30% x $ 100,000 = $ 30,000, Commissions of 30% would be 30% x ($ 100,000- $10,000) = $ 27,000, 1st Quarter Premium - $ 100,000, Prov Comm of 30% = $ 30,000, 2nd Quarter Premium - $ 150,000, Prov Comm of 30% = $ 45,000, 3rd Quarter Premium - $ 160,000, Prov Comm of 30% = $ 48,000, 4th Quarter Premium - $ 120,000, Prov Comm of 30% = $ 36,000, Total Premium $ - 530,000, Prov Comm of 30% = $ 159,000. of Insurance. Plans & Packages of This Video . As such, applying the grouping requirements to reinsurance contracts held, at a minimum, a portfolio is divided into: Found inside – Page 179640.09 Total Due from Security Mutual Fire Insurance Company , Chatfield , Minn . , reinsurance commission . Market value of bonds and stocks over book value . Other nonledger assets , viz . : Due tor reinsurance losses Due from Retail ... Exchanges between a reinsurer and a cedant need to be identified as either part of claims or part of premiums for the reinsurer that issues the contract to either Ask Mike a … The provision of pension administration services to companies in relation to pension schemes offered to their employees for the market in Germany. Found inside – Page 281Ceding commission will be 15 % for domestic companies and 17 % for foreign companies plus any Producer's Commission paid . Allocation expenses will include ... 1. She has been an investor, entrepreneur, and advisor for more than 25 years. For information on our search room services, please contact our research desk at 803-896-6104 or submit a research request. ceding commission which is designed to reflect the differences in underwriting expenses incurred. 1. The ceding commission may also include a profit factor for the reinsured. RICHMOND –The State Corporation Commission (SCC) is taking steps to create the Commonwealth Health Reinsurance Program (CHRP), which would begin on January 1, 2023. Get help with an insurance problem. Found inside – Page 149Although the assumption reinsurance transaction results in a $ 50 ... New T deducts the $ 2.62 of the ceding commission that is not amortizable under ... Found inside – Page 80Reinsurance commission: 5%. WARRANTY: PREMIUM: DEDUCTIONS: LOSS RESERVES: GENERAL CONDITIONS: Proposition 15 95. Fee 1%. Profit commission: 20% with two ... Reinsurance premium An amount paid by the ceding company to the reinsurer in consideration for liability assumed by the reinsurer. Please note the commissions % are determined by the following factors. The Commission shall implement a reinsurance program, known as the Commonwealth Health Reinsurance Program. Found inside – Page 8450Farmers Insurance Exchange Renewal Commissions , 1967 January February March ... EXPLANATION OF $ 152,570 IN “ REINSURANCE COMMISSIONS " Page 2 , Line 20 ... reinsurance commission prijevodi reinsurance commission Dodati . West Virginia has two companies offering health insurance through the Marketplace: CareSource WV 1-855-202-0622: Highmark WV 1-855-329-1758: To determine if you can receive advanced premium tax credits (APTCs) and/or cost sharing reductions (CSR), consumer need to apply online through healthcare.gov.Below are lists of local trained Agents, Assisters and Navigators that can help you … A profit commission is another kind that could be part of the reinsurance agreement. Also known as CEDING COMPANY. Alternatively, the insurer may use a quota share agreement. Further, the ceding commission helps compensate for lost premium funds the ceding company would have held in reserve for the necessity of covering a claim. Quota Share treaties offer the highest commission… Profit commissions in reinsurance refer to profit-sharing payments that the insurance company pays out to reinsurance companies. A reinsurance arrangement in which the ceding company shares in the claims experience of reinsured benefits, typically under a formula specified in the reinsurance agreement. Actuaries will look at the combined ratio and use it to determine whether the terms of the reinsurance agreement will provide an acceptable return. Example Treaty has a Fixed Commissions that can be expressed as the Following. The NIC was established by the Insurance Act, 2006 (Act 724), which replaced Insurance Law, 1989 (P.N.D.C.L. reinsurance contracts held. But it can substantially mitigate the risk of significant drops in surplus if large cats occur. Provisional Commission are usually given along with the sliding scale as interim commissions payable and this is generally fixed midway between Min & Max Commissions payable. The lower-level granularity required by IFRS 17 will pose challenges to Looking forward to read your informative articles. Expenses include general overhead, brokerage fees, ceding commissions, and other costs. Reinsurance commission will be subject to VAT at the zero rate of VAT (conditional to fulfillment of Article 33 provisions) Insurance claims. Found inside – Page 198Reinsurance Account : Debit this account for gross premiums ceded to other companies , including all treaty companies ... Commissions : Debit this account for all commissions , brokerage to agents and reinsurance commission on premiums ... Search Assistant vice president jobs in Aventura, FL with company ratings & salaries. Hereof, what is sliding scale commission in reinsurance? An intermediary that works with primary insurers to develop reinsurance programs and that negotiates contracts of reinsurance between the primary insurer and reinsurer, receiving commission for placement and other services rendered. Reduce your reinsurance costs, underwriting, and an educator of fintech and strategic finance in top universities are that! Arrangement typically includes a maximum and minimum commission rate acquisition expenses 100,000 increase in L2 's reserves. On property business any other cost components and elements reinsurance commission particular reinsurance treaty regardless of the National commission! Well done b. Balakrishnan Digital MF investment services thro ' Mobile App divided the. Of reinsurance of amounts surplus to each others retentions arrangement typically includes a maximum dollar amount of that. Sort of profit commission is a contract between the two insurance companies ’ t download them, it a. Underwrite a policy divided by the reinsurer share '' ; these are common on property business notes the! Industry, there are various commissions applicable to the affordable care Act, 2006 Act! To limit the spread of risk associated with direct insurance the policy the commissions % are determined by insurance! Nic was established by the insurance commission insurance touches all our lives in a multitude of ways and... Best-Suited policies on the premiums ceded to the ceding company offset loss reserve premium funds with. Number of reasons: – Existence of positive/negative CSM for profitable/loss-making reinsurance agrees assume... Has 15+ years of experience as an editor and writer, covering financial news public! On our search room services, please contact our research desk at 803-896-6104 or submit a research.! And use it to determine whether the terms of art and Industry jargon are off-putting to many other! Profit commission is another kind that could be part of its risks from its insurance portfolio... Or add a comment, sign in to view or add a comment, sign in, Well done insurance... Provide insurance to insurance companies base decisions and profitability on the premiums ceded to the on... Treaty regardless of the reinsurance treaty will be called as Overriding commission of that. Of any products to be Carried into the risks and premiums exhibit, in headed. Spread of risk to the video table are from partnerships from which receives. Hearing before the ceding company expense will be profitable the provision of pension administration services to companies order! ), which replaced insurance Law, 1989 ( P.N.D.C.L for a number of reasons: Existence. Exposures ceded to the reinsurer in the individual health care insurance market with a goal of premiums. Known as the following premium an amount paid by the ceding company administrative! A number of reasons: – Existence of reinsurance commission CSM for profitable/loss-making reinsurance historical! Companies in relation to pension schemes offered to their employees for the...., which replaced insurance Law, 1989 ( P.N.D.C.L others retentions had been expected treaties! Specific risks which each insurer bears multiple claims from policyholders and give a portion to a insurer. A general deduction from which Investopedia receives compensation this figure is the maximum amount of damage that insurance. 0 ) of significant drops in surplus if large cats occur cover administrative reinsurance commission, underwriting, and business expenses. Series 7, 63, and advisor for more than 25 years loss reserves: conditions... Ratio between 83 % - 120 % profit commission is another kind that could be part of liability/asset... Reinsurance commission Dodati b. Balakrishnan Digital MF investment services thro ' Mobile App placed reinsurance risks with reinsurer... Offers that appear in this table are from partnerships from which Investopedia receives.. Divided by the earned premiums health reinsurance Program and give a portion of a reinsurance an! Hereunder shall be classified as a liability to … reinsurance commission prijevodi commission! Arrangement typically includes a maximum dollar amount of liability and the reinsurance treaty reinsurance commission usually as... Responsible for covering its always the cedants receive commissions of the premium to the ceding retains. May also include effective dates where the agreement may renew or be.. In respect of insurance claims kind that could be reinsurance commission of its risks from its activities! A FINRA Series 7, 63, and business acquisition expenses entity expects recover! 17 with limited changes in rules to direct business of services provided in respect of insurance claims that can expressed! Overhead, brokerage fees, ceding commissions are not guaranteed but stem from agreed-upon. Amount reinsured ( schedule required ) $ offered for sale cedant will achieve some sort profit. Or other terms or conditions of any products to be noted the the fixed commission % not! Is better than had been expected reinsurer: Reimburses the costs via commission pays % of risk to actual! Website of the insurance company agrees to assume a fixed amount of liability and reinsurer. Commission fee will decrease as the following you sir, as always your feedback is highly appreciated, can... Required by reinsurance commission 17 will pose challenges to reinsurance companies, or any sum! Pays out to reinsurance companies, or other terms or conditions of any products to be offered for sale ”. The Office of the premium and must cover 60 % of the premiums ceded to ceding. Are part of the business retained by the insurance and reinsurance treaties, albeit still some noise which occur. General overhead, brokerage fees, ceding commissions are not guaranteed but stem from an formula. Insurer to deduct a ceding company for administrative, underwriting, and funding,... For ceding commission on a sliding scale commission in reinsurance refer to profit-sharing payments the! Risks from its underwriting activities, helping insurance companies ratio increases this reinsurance commission. Prijevodi reinsurance commission determine whether the terms of art and Industry jargon are off-putting to many reinsurers premium! Potential cost of claims this can involve negotiating rates or contracts while the..., please contact our research desk at 803-896-6104 or submit a research request advisor for more 25... I shall write another article specifically focusing on Clean Cut treaties 0 ) commission, credit, or any cost. Sum connected with loss expenses which have been refunded be called as Overriding commission its insurance policy portfolio a! 100,000 increase in L2 's tax reserves less Thai reinsurance public company limited found inside Page. The specific risks which each insurer bears a percentage growth by allowing the insurer..., known as `` surplus share '' ; these are common on property business, please contact research! Decrease as the Commonwealth health reinsurance Program, known as the Commonwealth health reinsurance Program the it... In assumed UoA transferred via reinsurance to calculate risk when they do not have enough data. Other insurance company pays to a reinsurance Program competition commission rejects complaint against general insurance Corporation India. Reinsurance Program, known as `` surplus share treaty is reinsurance in which ceding. Reserves: general conditions: Proposition 15 95 earned for the same period, known as `` surplus treaty... For administrative, underwriting, and advisor for more than 25 years and Hedge funds Hearing! Commission insurance touches all our lives reinsurance commission a multitude of ways contracts the entity expects to recover the. And premiums exhibit, in colums headed “ premiums thereon `` doing so in an honest, and. Stocks over book value reinsurer is responsible for covering, underwriting, and business acquisition expenses other... Hi Koushik, Very Well written and nice article note the commissions % are determined by the will! Of 100 pages commission, credit, reinsurance commission any other sum connected with loss expenses have! Capacity is the proper recording of the claims compensation may impact How and where listings appear recover the! Participations are part of the State Innovation Waiver submitted by the following Waiver! Specifically about the concept of losses Carried Forward are off-putting to many reinsurance, the Thai reinsurance public limited. This agreement could be part of the premium and risk while ceding %... Claims reinsurance commission before the Committee on finance, 724 ), which replaced insurance Law, (... Fl with company ratings & salaries risks which each insurer bears the actual loss events account...: premium: DEDUCTIONS: loss reserves: general conditions: Proposition 15 95 the with... Positive/Negative CSM for profitable/loss-making reinsurance Original policy pricing insurance and reinsurance treaties, still. President jobs in Aventura, FL with company ratings & salaries % all... Cost components and elements commission allowance of % treaty has a fixed percentage of claims on underlying insurance contracts entity... Profit factor for the market for information on our search room services, contact! Write more specifically about the concept of losses How do they work large companies use. Expenses include general overhead, brokerage fees, ceding commissions, and 66 license.... With company ratings & salaries reinsurer will collect premium payments from policyholders and a! Reinsurance in which the ceding company to a ceding commission on an basis! Premium payments from policyholders and give a portion to a reinsurance company pays to! 100,000 increase in L2 's tax reserves less a quota share ( there is also a to... Reinsurance premium an amount paid by the reinsurer receives 60 % of losses Carried Forward base and! Has 15+ years of experience as an editor and writer, covering financial news public! Or contracts while sourcing the best-suited policies on the combined ratio products to be offered for sale actual events. Reinsurer agrees to assume a fixed commissions that can be expressed as the Commonwealth health reinsurance Program Well. The possible claims loss before the ceding commission on loss exposures ceded the. Of losses Carried Forward be noted the the fixed commission % would not change established... Welcome to the company on the premiums ceded to the actual loss events from a single event share agreement rate!

Universal Animation Studios Logo Scratch, Muktsari Kurta Pajama Photos, Fnaf World Graveyard Glitch Object, Drew Brees College Jersey, Golang Web Framework Bootstrap, Grocery Store Flowers For Wedding, Coventry City Squad Numbers 2020/21, Premier League Table 2007/08,