Home Forums Knowledge Sharing Unearned Premium Reserve (UPR)

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    Mayank Goyal
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    upr unearned premium reserve Actuaries Insurology

    Unearned Premium Premium Reserve (UPR):
    a) A reserve for unexpired risks shall be created as the amount representing that part of the premium written which is attributable to. and to be allocated to the succeeding accounting periods and shall not be less than
    i) Fire business, 50 per cent, ii) Miscellaneous business, 50 per cent, iii) Marine business other than marine hull business, 50 per cent; And iv) Marine hull business, 100 per cent, Of the premium, net of re-insurances, during the preceding twelve months;

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