IBNR/RBC Valuation Claim and Premium Reserve

Claim and Premium Reserve

Our company provides specialized services to general insurance companies for the calculation of Incurred But Not Reported (IBNR) and claim reserves, as well as premium reserves for RBC Form 4. IBNR and claim reserves are estimates of the amount of future claims that an insurance company will face. Premium reserves are estimates of the amount of premium that an insurance company will collect in the future from policies that have already been written. Our certified actuary must sign off on the calculation, which must cover both gross and net reinsurance bases. Both of these reserves are important for insurance companies, as they help to ensure that they have adequate financial resources to cover future claims and premiums. Our company has the expertise and experience necessary to provide accurate and reliable calculations of claim reserve and premium reserve for our clients, helping them to make informed decisions about their financial planning and risk management strategies.

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Expense Study

Our company provides exceptional services to insurance companies for expense studies and analysis. In non-life business, the expenses may include (but are not limited to) unallocated loss adjustment expenses (ULAE), maintenance expenses (ME), and claim handling expenses (CHE). ULAE are costs incurred by an insurance company that cannot be attributed to the processing of a specific claim. ME are costs incurred by an insurance company to keep their policy in good working condition. CHE are costs incurred by an insurance company in the processing and administration of insurance claims. These expense assumptions are important for insurance companies when developing cash flow testing, profit testing, capital adequacy testing, etc. Our company has the expertise and experience required to provide our clients with reliable expense assumption, allowing them to make informed financial planning decisions.

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