Report of the Working Party on Claims Run-off Patterns

Document description

Following the GISG Convention in Torquay in October 1987 this working party (the CWP) was set up to examine claim run-off patterns. This followed a suggestion in a paper on the discounting of general business claims reserves. It suggested that standard payment patterns might be appropriate for discounting claims reserves in certain circumstances. Alternatively standard patterns might be used as a starting point against which a company's experience could be assessed. It was suggested that these possibilities be investigated further. The CWP made an interim report to the General Insurance Convention in Harrogate in October 1988. A number of suggestions were made by the Convention. These included: the examination of a property risk group in addition to Private Motor and Employers Liability; the search for time trends; and the presentation of some results graphically.