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Author:
David A Bishop; Jonathan Broughton; Antony W Hartington; Julian G Ross; Richard A Shaw; David A Slater
Source:
General Insurance Convention 1997

Asbestos and Pollution Reserving Working Party

There has been a large increase in interest in latent claims over the last decade as many London Market insurers and reinsurers have suffered large volumes of asbestos and pollution claims from the United States. The aim of this paper is to bring together ... read more >>

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Author:
Duncan J Anderson
Source:
General Insurance Convention 1997

An introduction to statistical premium rating

[summary only] Workshop: An Introduction to Statistical Premium Rating Duncan Anderson Purpose The aim of the workshop will be to provide an introduction to the statistical techniques commonly used in motor premium rating. The discussion will be ... read more >>

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Author:
Thomas S Wright
Source:
General Insurance Convention 1997

Geographic information systems for household insurance

[summary only] WORKSHOP - GEOGRAPHIC INFORMATION SYSTEMS FOR HOUSEHOLD INSURANCE Tom Wright OVERVIEW The workshop will focus on the types of geographic information available and the principles involved in using this type of information in premium ... read more >>

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Author:
James McPherson
Source:
General Insurance Convention 1997

Corporate capital vehicles. A better approach to capital allocation?

This paper outlines the current corporate capital structures within Lloyd's. It also considers how these structures compete for the right to participate in underwriting and suggests a method for assessing a fair price. Lastly, consideration is given to ... read more >>

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Source:
General Insurance Convention 1997

Lloyd's US opinions [summary only]

LLOYD’S U.S OPINIONS WORKSHOP AT GISG 1997 SUMMARY OF POINTS FOR DISCUSSION 85 Insurance Convention 1997 General As at 31 December 1996. Statements of Actuarial opinion (SAO’s) were introduced for all Lloyd’s syndicates writing certain categories ... read more >>

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Author:
Graham J Warren
Source:
General Insurance Convention 1997
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Author:
Institute of Actuaries

Claims Reserving Manual, vol.1: Section 2: Introduction to reserving

Description of claims process; Reserving methodology - general; Reserving in context; Commonly used simple reserving methods This document forms part of the Claims Reserving Manual, 2nd edition, 1997. It should be considered historic and for evaluative ... read more >>

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Author:
Institute of Actuaries

Claims Reserving Manual, vol.1: Section A: The insurance background

Purpose of claims reserving; Types of business - the primary market; Types of business - reinsurance and the London Market; Note on technical reserves; Note on terminology This document forms part of the Claims Reserving Manual, 2nd edition, 1997. It ... read more >>

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Author:
Institute of Actuaries

Claims Reserving Manual, vol.1: Section B: Data and forecasting

This section introduces some of the main building blocks for claims reserving. To begin with, there is the important idea of making a projection of past experience into the future. Since the future never takes the trouble to conform properly with the past, ... read more >>

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Author:
Institute of Actuaries

Claims Reserving Manual, vol.1: Section C: Company and external influences

If we lived in a world where nature and human activity were well behaved and gave no cause for upset or surprise, then claims reserving would be a simple matter scarcely requiring the services of the expert. One would need to assess the values of at most ... read more >>

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Author:
Institute of Actuaries

Claims Reserving Manual, vol.1: Section D: Dimensions of choice

Case reserves v Statistical methods; Simple statistical methods v Mathematical modelling and stochastic techniques; All claims together v Separation of large and/or small claims; Figures gross v Net of reinsurance/claims expense/salvage and subrogation; ... read more >>

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Author:
Institute of Actuaries

Claims Reserving Manual, vol.1: Section E: The projection of paid claims

The grossing up method; The link ratio method; Link ratios v grossing up. This document forms part of the Claims Reserving Manual, 2nd edition, 1997. It should be considered historic and for evaluative consideration. Reserving methods and techniques ... read more >>

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Author:
Institute of Actuaries

Claims Reserving Manual, vol.1: Section F: Case estimates and the projection of incurred claims

Nature of case estimates; The incurred claims function; Incurred claims - grossing up; Incurred claims - link ratio method; Grossing up of case reserves; Adequacy and consistency of case reserves; Adjustment of incurred claims projection. This document ... read more >>

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Author:
Institute of Actuaries

Claims Reserving Manual, vol.1: Section G: Methods using loss ratio and loss ratio projections

Concept of loss ratio; Naive loss ratio method; Bornhuetter-Ferguson method; Comparison of results; Taking stock of the methods; Sensitivity testing and choice of estimate; Paid loss ratio - step-by-step projection; Paid loss ratio and paid claims ... read more >>

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Claims Reserving Manual, vol.1: Section H: Methods based on claim numbers and average cost per claim

Paid historic claims projection; Number settled and number reported; Incurred average claims projection; Risk exposure and claim frequency; Correspondence of claim numbers and claim amounts. This document forms part of the Claims Reserving Manual, 2nd ... read more >>

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Claims Reserving Manual, vol.1: Section I: Methods for IBNR

IBNR means "Incurred but not reported". The term refers to claims not yet known to the insurer, but for which a liability is believed to exist at the reserving date. That is simple enough in itself, but the four letters contain a wealth of meaning, and of ... read more >>

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Claims Reserving Manual, vol.1: Section J: Dealing with inflation

Inflation - general considerations; Inflation adjusted claims projection; Bennett and Taylor - Method A; The Separation method. This document forms part of the Claims Reserving Manual, 2nd edition, 1997. It should be considered historic and for evaluative ... read more >>

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Claims Reserving Manual, vol.1: Section K: Miscellaneous topics

Average cost reserving systems; Reserves for re-opened claims; Re-opened claims - Balcarek's method; Claims expense - indirect type; Claims expense - direct type. This document forms part of the Claims Reserving Manual, 2nd edition, 1997. It should be ... read more >>

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Claims Reserving Manual, vol.1: Section L: Actuarial considerations

Actuarial methods have for a long time been at the heart of life assurance, providing the essential discipline and long-term financial control. But in the last three decades, it has been increasingly realised in the UK that actuarial methods have an ... read more >>

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Claims Reserving Manual, vol.1: Section M: Towards a formalised approach

The history of a claim; The claims cohort; Claim numbers and claim amounts; Overall loss and the claims reserve; Primary division of the claims reserve; The full analysis of loss; Average cost per claim; Exposure measures and loss ratio; Time axes; ... read more >>