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Work of the General Insurance Reserving Oversight Committee (GIROC)

The General Insurance Reserving Oversight Committee (GIROC) is a highly active committee, supported by six key working parties and, produces a large number of outputs annually

Working Parties

GIROC is currently supported by six key working parties. The remit of these working parties is to contribute to the overall output of the committee.

If you have an idea for a working party to tackle an emerging issue in general insurancere reserving, please get in touch with GIROC via the contact details at the bottom of page. GIROC also runs workshops and other smaller targeted interactions, so if the idea is current but not large, please do still contact the committee. Workshops coming up soon can be found on our main page. 

Our current ideas for new working parties are:

  • Granular reserving (being set up in 2018)
  • Developing your reserving team (ideas stage for 2019 launch)
  • Simplifying your reserving analytics (ideas stage for 2019 launch)

 Former working parties that have had a large contribution to the committee and its overall success include:

Other non-active working parties include those below. If you would like to develop any incubating working partlies let us know so we can get them started. Click the links to find out more about the initial ideas. You should be expecting to volunteer to chair the working party or take an actie leading role (please note tha the usual volunteer vacancy process would apply to any permanent volunteer appointments).

Work of GIROC

The General Insurance Reserving Oversight Committee is highly active, producing a large number of outputs annually. Along with the former General insurance Reserving Issues Taskforce (GRIT), GIROC  has produced a number of papers and presentations, with selected outputs listed below:  

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

  • A change agenda for reserving [pdf] (Executive Summary)
  • A change agenda for reserving  [pdf] (Sessional Paper)
  • Presented to the Institute of Actuaries on 27 March 2006
  • A paper produced by the reserving oversight committee of the Actuarial Profession, the GRIT report (A change agenda for reserving, presented to the Institute of Actuaries on 27 March 2006) recommended that 'an actuary should be required to show a numerical estimate of uncertainty in any formal report wherever a point of estimate of reserves is supplied' (para 1.5.2). The purpose of this paper is to set out the views of the members of ROC on how this recommendation should be implemented in practice.

Related documents

Contact Details

For more information about the General Insurance practice area please contact the Professional Communities Team:

professional.communities@actuaries.org.uk