Claims Reserving Working Party paper

Document description

The purpose of the paper is to provide practical guidance on general insurance claim reserving from the following viewpoints: Providing a framework or working guide to the execution of reserving. Section 2 gives guidance on the factors which should be considered as background to the reserving process. These factors should help to determine the methodology to be used and help in assessment of parameters where judgement is involved in the reserving process. Practicalities of the chain ladder projection method. The chain ladder method is the most widely used method for projecting results. Section 3 considers the practicalities involved, which are highly contingent on the amount, type and reliability of the data available.