01.10. The Relationship Between Loss Reserves and the UEP Reserve

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Author:
COC2
ID:
206541
Filename:
01.10. The Relationship Between Loss Reserves and the UEP Reserve
Updated:
2013-03-11 19:39:28
Tags:
Relationship Between Loss Reserves UEP Reserve
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Description:
The Relationship Between Loss Reserves and the UEP Reserve
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  1. Loss reserves and UEP reserve
    • no overlap
    • can both occur deficiencies
    • any deficiency must be reflected in the appropriate reserve figure
  2. Deferral-matching vs loss reserve
    • recognized only after event occured
    • loss reserves cover expired portion of policy
    • losses arising from unexpired portion are covered by UEP reserve
  3. loss / premium reserve deficiency
    • loss: on incurred but unpaid due to changing economic / legal environment
    • premium: on expected loss due to new pricing / uw decisions or changes in legal interpretation of policy language

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