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Periodical Payment Orders (PPOs)

This Working Party investigates Periodical Payment Orders (PPOs) and their effects on the UK insurance and reinsurance industry

PPOs are a significant feature of insurers' and reinsurers' balance sheets already and are having an impact on pricing and capital modelling efforts of GI actuaries. The Periodical Payments Orders Working Party has been at the forefront of advising GI actuaries about the impacts on their work, such as the need to use life insurance techniques in reserving.

The Periodical Payment Orders Working Party also conducts an annual survey of the UK motor insurance industry about their experience of PPOs.  This has enabled:

  • creation and publication of statistics about the number, quantum, and nature of PPOs as awarded by the courts
  • qualitative feedback from the industry about their concerns and practices as regards to PPOs.

The Working Party will compile a mortality table of impaired lives due to brain and spinal injury following a severe trauma

The data is compiled from the UK medical research database of patient records as entered by GPs. Whilst cause of injury is not recorded we hope that the data will be sufficiently close to motor-related accidents that the mortality is a good match. To the best of our knowledge, this is the first time that such an investigation has been attempted. There is considerable call in the insurance industry for such analysis to help pricing, reserving and capital modelling.

The PPO working party operates within a terms of reference.

Periodical Payment Orders Working Party Outputs:







2010 - 2015

Chair: Peter Towers
Membership: 23
Established: 2010

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