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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 >>