Actuarial Standard of Practice on Discounting Casualty Loss Reserves

The Actuarial Standards Board recently issued a Standard of Practice on discounting casualty loss reserves. The development of the Standard took over two years, including two exposure drafts, many response letters, and a public hearing. The presentation will review the numerous complex issues raised in the drafting process, including the positions taken by various respondents and those ultimately adopted in the Standard. For actuaries practicing in the area, the presentation will highlight requirements they may otherwise be unaware of.