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This Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href="http://www.frc.org.uk/bas/actuarial/index.cfm" target="external">BAS website</a>.

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The general insurance actuary may be required to estimate the future liabilities for latent claims arising from the portfolio of an insurance or reinsurance company or a Lloyd's syndicate. This may be as part of a normal reserve valuation or as an exercise specifically dealing with latent claims. Papers have been presented to the 1990 and 1991 GISG conferences as an introduction to latent claims, but no specific advice has been given to actuaries as to the factors which should be taken into account and approaches to the problem which should be given attention.

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This Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href="http://www.frc.org.uk/bas/actuarial/index.cfm" target="external">BAS website</a>.

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The working party feel that the level of knowledge of commercial fire insurance is relatively low within GISG. This may be a relevant factor contributing to the recent decline in numbers of specialist general insurance actuaries within the larger composite companies. Actuaries may have entered the arena with some worthwhile ideas on reserving, statistical analysis and motor rating.

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Document description

This Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>.

Document description

This Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>.

Document description