General Insurance Convention 1983
Bristol, 1983
Outstanding claims reserves. - General Insurance Study Group. 113 pages.
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.
Working Party on Actuarial Reporting. - Ryan, John P. 57 pages.
This report seeks to establish a framework for considerations of solvency, particularly in so far as they concern the security offered in respect of existing business. In so doing, attention is focussed on accounting principles and methods, and the shortcomings of present arrangements for reporting on general business liabilities.
Working Party on Solvency. - General Insurance Study Group. 118 pages.
The object of this paper is to provide a reference document for an actuary writing non- life reports. The object is to provide a comprehensive checklist of points that need to be considered when writing a report. This checklist is designed to serve two purposes. Firstly, to act as a guide for the work the actuary must carry out in order to be able to draw reasonable conclusions as to the reserve adequacy or solvency of a company, or part of a company as the case may be. Secondly, an actuary writing a report would be expected in the full report to either specifically cover the various items concerned or else satisfy himself that they are not relevant to the case in hand. Where a particular item is deemed by the actuary not to be relevant but might be thought by a third party to be relevant, it would be incumbent upon the actuary to incorporate in his report a statement as to why he did not consider a particular point to be relevant.