Reserving for Long-Duration Policies Presented by Roger M. Hayne, FCAS, MAAA CLRS, San Diego, CA September 10-11, 2007 What We Are Used To Usual P&C Products Term of 1 year of less Loss emergence usually uniform over term (though some seasonality can exist)
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Roger M. Hayne, FCAS, MAAA
CLRS, San Diego, CA
September 10-11, 2007
(PQ 07-1, OQ 07-2) x 3-to-Ult.
(PQ 06-4, OQ 06-4) x 9-to-Ult
(PQ 06-3, OQ 07-2) x 3-to-Ult.
The UEPR should be large enough to provide for all future losses and expenses, even if all policies are cancelled at the valuation date, but should release profits no faster than losses and expenses are expected to emerge over the life of the contract