Document library
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1986
The effect of the US legal environment on casualty insurance business
It soon becomes apparent to a new entrant to an underwriting organisation writing US casualty insurance business in the London market that the business is significantly different from the liability insurance traditionally written in the UK domestic market. ... read more >>
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- Author:
- John Andrew Ross; Christopher C Pountain
- Source:
- General Insurance Convention 1985
Estimating outstanding claims reserves - from the standpoint of an external observer
In this paper we describe a computerised method of assessing the relative strengths of the outstanding claims reserves of general insurers from the statutory returns. While Wood MacKenzie & Co. Ltd. has developed this system principally as a tool of ... read more >>
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- Author:
- William J F Rowlandson
- Source:
- General Insurance Convention 1985
Unexpired risk reserve
The only formula I have ever seen for calculating the URR (and the one applied by the DTI) basically requires that the total premium reserves at the end of a year should be:- (Claims ratio for the year) x (Unearned premiums at end of the year). If the ... read more >>
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1985
Suggested syllabus and reading for general insurance
Suggested Syllabus and Reading for General Insurance Notes: (1) The advanced level syllabus is assumed to include all the standard level topics as a pre-requisits. They may also be examined in greater depth at advanced level. (2) The advanced level ... read more >>
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1985
The solvency of general insurance companies revisited
The Working Party has established a simulation model for investigating the behaviour of the run-off of an insurance portfolio under various conditions. Initial work has been confined to the study of the run-off of the assets and liabilities of a closed ... read more >>
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1985
Use of expert systems in non-life insurance
Any actuary in non-life insurance must realise the potential and limitations in the use of computer power. Indeed in the insurance world an actuary is in a unique position to appreciate an overall view and should be heavily involved in the planning of ... read more >>
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1985
Insurance Corporation of Ireland
This case illustrates dramatically that even when a company appears to meet the solvency requirements satisfactorily, with a margin to spare, it may in fact be tumbling into insolvency. Far from the supervisor being able to recognise the situation, the ... read more >>
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- Author:
- William W Truckle
- Source:
- General Insurance Convention 1985
A survey into the estimation of provisions for outstanding claims by actuarial/statistical methods
The purpose of the survey was to assess the extent to which actuarial/statistical methods are used in estimating the provisions for outstanding claims in some of the major non-life insurers. It was also intended to discover the methods employed in ... read more >>
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- Author:
- Bob J J Alting von Geusau
- Source:
- General Insurance Convention 1985
Indexed annuities and the stability clause
In some reinsurance contracts of the Casualty Excess of Loss type (XL) one may find simultaneously two clauses defined separately: 1) the Stability Clause (SC): in this clause the procedures are formulated by which the burden of monetary inflation is ... read more >>
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1985
The meaning of composite insurers' results
All the quoted UK composite insurers spend considerable time and effort communicating their results to their shareholders. Attention tends to focus on pre-tax profits. But what precisely is this supposed to mean, and what conclusions should shareholders ... read more >>
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- Author:
- Patrick S Carroll
- Source:
- General Insurance Convention 1985
Statistical methods for general insurance
In the workshop it is intended to discuss possible use of new textbooks for training and education purposes. Are they suitable for inclusion in the reading list of either the A or the examinations or university examinations? What research needs to be ... read more >>
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1985
Report of the Solvency Working Party - abstract
The Working Party sets out to challenge the traditional approach to the solvency of a general insurance company based on balance sheet accounting concepts and to apply actuarial concepts of cashflow to the run-off of a portfolio of general insurance ... read more >>
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- Author:
- Peter Matthews
- Source:
- General Insurance Convention 1985
Cash mechanics of proportional treaties
We have only just started to uncover the mysteries surrounding the cash mechanics of proportional treaties. Much work still remains to be done. We need to consider the implications of letters of credit, the allocation of administrative costs both direct ... read more >>
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1985
Accounting standards for general insurance companies
Following discussion on reserving standards at the Bristol Seminar of GISG in November 1983, an informal working party of accountants and actuaries was established to consider matters of mutual interest to the professions in the general insurance area. ... read more >>
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- Author:
- Nicholas Michaelides
- Source:
- General Insurance Convention 1985
Extended warranty
These notes approach the problem of projecting claims with data as provided in table 1. While the data provided retains the shape of the original, it has been transformed so that neither frequency nor average cost are representative of actual absolute ... read more >>
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- Author:
- General Insurance Study Group
- Source:
- General Insurance Convention 1985
Reinsurances outwards in the London market
This note has been written for actuaries making acquaintance with the London reinsurance market and needing to know how the market operates. The note is detailed and the subject is complex. Other actuaries may like to use it to gain an introduction to the ... read more >>