Document library
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- Author:
- David E A Sanders
- Source:
- General Insurance Convention 1981
Risk theory and the determination of solvency
The use of Risk Theory in General Insurance goes back an extremely long way. Barrows (1835) distinguished between the probability of a building catching fire and the amount consumed by fire once it had started. The general principles were used in life ... read more >>
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- Author:
- John P Ryan
- Source:
- General Insurance Convention 1981
Trends in the underlying parameters
When the management of a company is about to set its premium rates for the following year, an estimate of the likely parameters that go towards the make up of the premium rates will have to be made. These parameters include claims frequency, claims cost, ... read more >>
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- Author:
- David E A Sanders
- Source:
- General Insurance Convention 1981
Solvency margins and the underwriting cycle
Work on the effect of the underwriting cycle and solvency appear to have been minimal in the past. It is clear that from various factors, there is little to link underwriting cycles with solvency, except, perhaps, the first. What this note intends to ... read more >>
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- Author:
- Mark E Trayhorn
- Source:
- General Insurance Convention 1981
Working Party on Solvency Margins. Technical risks
The main risk that we are concerned with here is the possibility of a trading loss arising because one or more elements in the premium basis turn out to be inaccurate. Two cases may be distinguished: 1) Where the premium rates are adequate but losses ... read more >>
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- Author:
- Clarke, Martin G
- Source:
- General Insurance Convention 1981
Solvency margins. Technical risks. The adequacy of premium reserves
Compared with the outstanding claims reserve, the potential for insolvency caused by factors affecting premium reserves is perhaps minor, though an awareness of their effects is no doubt valuable as far as obtaining an overall picture of a company's ... read more >>
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- Author:
- Andrew Thomson; Susan Cooper; David Craighead; Russell Devitt; Stewart Hartley; Roger Harvey; David Williams
- Source:
- General Insurance Convention 1981
Investment Risks Working Party report
An insurance company must maintain sufficient reserves and provisions to cover the following risks: Technical Risks; Investment Risks and Other Risks. There were three working parties, each one concentrating on one of the above three categorisations. The ... read more >>
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- Author:
- Gerald Healy
- Source:
- General Insurance Convention 1981
Inflation
When an underwriter considers a revision of premium rates for a particular class of business he is forced, either implicitly or explicitly, to make a number of assumptions regarding the future progress of the account. If he were able accurately to predict ... read more >>
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- Author:
- Bob Alting von Geusau; David Hart; Nigel Gillott; Ray Hunter; Janet Lockett; Graham Lyons; Chris Mellor; Richard Wilkinson
- Source:
- General Insurance Convention 1981
Reinsurance and other aspects. Solvency Working Party report
The subject of reinsurance and particularly its solvency aspects is a most appropriate one for study at the present time in view of the generally agreed weakness of the world reinsurance market. This is fairly typically summed up in the following quotation ... read more >>