Outstanding claims reserves in general insurance are a type of technical reserve or accounting provision in the financial statements of an insurer. They seek to quantify the outstanding loss liabilities for insurance claims which have been reported and not yet settled (IBNeR) or which have been incurred but not yet reported (IBNyR) reserves. This is a technical reserve of an insurance company, and is established to provide for the future liability for claims which have occurred but which have not yet been settled.
Other articles related to "outstanding claims reserves, claim, claims, outstanding":
... methods have been established for the calculation of outstanding claims reserves in general insurance ... ladder model Separation method Average cost per claim methods Bornhuetter-Ferguson method Paid-incurred chain (PIC) claims reserving model Bootstrap methods Bayesian methods (see Benjamin (1987), Taylor ... These stochastic methods allow to analyze and quantify the prediction uncertainty in the outstanding loss liabilities ...
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