Outstanding claims reserves

Document description

There is no one method which is recognised as a standard procedure for estimating such reserves. There are a large number of methods which have been proposed and/or used ranging in complexity from individual case estimates to methods using advanced statistical techniques. A very large number of papers on the subject have been written and printed in diverse publications. The person charged with estimating the reserves for his office should be aware of the methods which are available, but to wade through all the literature on the subject would be an immense task. A major purpose of this report is to make an easier job of finding suitable methods which might be used for an individual office's own particular portfolio of business. To this end the working party considered a large number of the papers which might be relevant to the subject of outstanding claims reserving. These papers are listed in Appendix 1.