Document library
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- Author:
- G P M Maher
- Source:
- British Actuarial Journal [BAJ] (1995) 1(4): 689-760
Loss reserves in the London Market
This paper addresses the process of estimating loss reserves for a company or syndicate writing in the London Market. Particular emphasis is placed on insurers maximising the value of the process, and ensuring that the process is not simply a series of ... read more >>
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- Source:
- General Insurance Convention 1994
Proposed equalisation reserves systems [summary only]
Proposed Equalisation Reserves Systems Background The ABI / Inland Revenue / DTI / GAD Joint Working Party have been working together to design two systems that have been put to the ABI membership. The systems are summarised as follows: “Claims ... read more >>
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- Author:
- John M Charles
- Source:
- General Insurance Convention 1994
Dynamic solvency testing [summary only]
Dynamic Solvency Testing John Charles Background At last year’s conference a paper on Dynamic Corporate Management was presented. Briefly, Dynamic Solvency Testing (DST) involves projecting a company’s solvency position into the future under varying ... read more >>
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- Author:
- Craig T Pettengell; Kevin Phillips; David Skurnick; Peter Smith; James R K Upson; Martin G White
- Source:
- General Insurance Convention 1994
Making money for shareholders
This paper resulted from a suggestion that there were some lessons to be learned from the financial performance over nearly 30 years of the US insurance and investment company Berkshire Hathaway. To form the basis of a useful workshop discussion, we have ... read more >>
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- Author:
- Shailesh A Malde; Angus Ball; Brian Gedalla; Constantinos Miranthis; Hugh Rice; Alastair C Shore; Philip Archer-Lock; Catherine Cresswell; Graham E Lyons; Kathryn A Morgan; David E A Sanders; Kathryn Willis
- Source:
- General Insurance Convention 1994
Marine insurance
Marine Insurance is a vast subject and the aim of this paper is to provide background that will assist in understanding the principal features of the business. The paper examines each main class of business, Hull, Cargo & Specie, Liability and Energy, ... read more >>
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- Author:
- Peter J Akers; Martin Cross; D Davies; Julian C T Leigh; Norman A Shuker
- Source:
- General Insurance Convention 1994
Report of the Pecuniary Loss Working Party
This paper describes the recent work of the Pecuniary Loss Working Party (PLWP). Section 2 provides the context for the recent work and describes the reasons for examining creditor covers at this time. Section 3 contains the results of our recent market ... read more >>
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- Author:
- Philip J F Taylor
- Source:
- General Insurance Convention 1994
Risk selectivity, or, the availability of insurance
This paper discusses the connected issues of risk selection, pricing and the availability of insurance with a view to helping the General Insurance Joint Practice Board form a view on the extent to which this is an issue for the profession and what action, ... read more >>
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- Author:
- Peter H Hinton; Mark A Cockroft
- Source:
- General Insurance Convention 1994
Claims run-off patterns update
The run-off patterns shown in the accompanying tables all relate to claim payments for direct insurance (and facultative reinsurance) business, before allowing for reinsurance recoveries and accounted for on a one-year basis. Four sets of tables are shown ... read more >>
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- Source:
- General Insurance Convention 1994
Insurance futures and options
The Working Party gained direct and valuable experience in the need to hedge positions. At least 3 meetings were adversely affected by circumstances beyond the working party's control. Snow ruined one meeting, the rail strike another and finally one ... read more >>
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- Author:
- Alex J Arterton; David M Lang; Timothy P Mardon
- Source:
- General Insurance Convention 1994
PI [professional indemnity] claims
Both the frequency and severity of claims against members of professional bodies have dramatically increased since 1980. The type of professional suffering claims has broadened. and some categories (such as Accountants operating in the United States) have ... read more >>
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- Author:
- Timothy D Carter; Sanjiv Chandaria; R Henry Johnson; Andrew R Leifer; Helen R Pitt; Andrew J Turnbull
- Source:
- General Insurance Convention 1994
Statistical Premium Rating Working Party
This paper considers how generalised linear models are used to assess the adequacy of premium rates for personal lines insurance business. It considers the practical steps involved and discusses the results for various models that were fitted to a sample ... read more >>
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- Source:
- General Insurance Convention 1994
Stochastic v deterministic for reserving [summary only]
STOCHASTIC -v- DETERMINISTIC FOR RESERVING - - - - - - - - - - - Is the underlying model statistical or chaotic? What are the implications of using a: deterministic model stochastic model? Are the actuaries trained to perform stochastic ... read more >>
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- Author:
- Clive G Bolton; Andrew D Button; Edward J Levay; Richard Pater; Craig T Pettengell; James C Rakow; Philip D C Webb
- Source:
- General Insurance Convention 1994
Houshold rating
Discussing topical issues in the household line and explore possible scenarios of the future: claims, premium rates, the market. Household Rating Clive Bolton (Chairman) Andrew Button Edward Levay Richard Pater Craig Pettengell James Rakow Philip ... read more >>
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- Author:
- Peter K Clark; Graham E Lyons; Timothy P Mardon; W Edgar Wilson
- Source:
- General Insurance Convention 1994
US medical malpractice insurance
This paper seeks to explain aspects of US medical malpractice insurance. Part 1 considers the recent history, current position and trends of the insurance market. In Part 2 we explain the terminology and definitions which may not be familiar to those not ... read more >>
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- Author:
- Andrew Hubbard
- Source:
- General Insurance Convention 1994
Actuaries and auditors, or, the drunk and the lamppost [summary only]
ACTUARIES AND AUDITORS THE DRUNK AND THE LAMPPOST (or the Auditor and the Actuary) ANDREW HUBBARD 253 Insurance Convention 1994 General THE DRUNK AND THE LAMPPOST (or the Auditor and the Actuary) " . . . . . . . . . . . . . . . . . . . more for ... read more >>
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- Author:
- Alex J Arterton; Kendra Felisky-Watson; David E A Sanders; S Wilson
- Source:
- General Insurance Convention 1994
Disease and employers liability insurance
Disease exposure in respect of Employer's Liability insurance is a key subject. Currently in excess of 50% of claims by number reported in Employer's Liability category is classified as a 'disease', i.e. having a long potential exposure or development ... read more >>
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- Author:
- Nigel D Hooker; J Richard Bulmer; Susan M Cooper; Peter H Hinton; Andrew J Newman; Anthony H Silverman; Walter Wright
- Source:
- General Insurance Convention 1994
Capital requirements and risk-based capital
The paper looks at the problems of assessing the capital requirements of a non-life insurer from a regulator's viewpoint in the context of the United Kingdom. It considers how capital requirements might vary according to the different risks to which an ... read more >>
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- Author:
- Keith D Tucker
- Source:
- General Insurance Convention 1994
Structured settlements
[summary only] Structured Settlements Workshop Workshop Leader: Keith Tucker This workshop will discuss the growing use of Structured Settlements in the UK as a means of paying damages. Structured Settlements arise as a result of a facility set up ... read more >>
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- Author:
- Alan W Botterill; David C B Ibeson
- Source:
- General Insurance Convention 1994
Asset liability matching and modelling
This Working Party was formed to make a start on identifying the asset related issues that are likely to be important to the successful management of a general insurance operation. There is growing support for the view that in due course actuaries working ... read more >>
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- Source:
- General Insurance Convention 1994
Commercial insurance for companies in a franchise
[summary only] COMMERCIAL INSURANCES FOR COMPANIES IN A FRANCHISE In many types of General Insurance the expenses that are related to the insurance cover are relatively high in comparison to the size of the risk or the size of the actual risk premium.This ... read more >>