The run off triangles helps in forecasting the reserve amount that needs to be held by the insurer at any point in time so that they have sufficient assets to cover their liabilities at any point in time. They can be used to forecast the different types of reserves. When a claim event occurs there will be some time before …

Actuarial GI Reserving is standard practice in General Insurance companies. Below are the questions which you may have. As this is just an introduction to Reserving, we are not going to cover any concept but just questions that would be discussed in detail in the upcoming exercises.

Actuarial GI Reserving is a standard practice in General Insurance companies across the world. By learning Reserving, it becomes easier for you to understand the concepts behind the Reserve liabilities of a GI company. TAC Learn makes it easy for you to understand these Reserving concepts using our Actuarial GI Reserving tutorials. The content and exercises provided are generalized to …

Incurred But Not Reported or IBNR reserves are a part of claims reserves estimated by insurers for reporting on their financial statements. Claims reserves are estimates of claims that have occurred on or before the financial statement report date but which have yet to be paid. This a current liability that has to be reported regularly on the insurer’s financial …