Actuarial Standard of Practice No. 20, Discounting of Property and Casualty Loss and Loss Adjustment Expense Reserves (Doc. No. 037)

The purpose of this Standard is to define the issues and considerations that an actuary should take into account in determining discounted loss and loss adjustment expense reserves. The Standard applies to practices that relate to the Casualty Actuarial Society’s Statement of Principles Regarding Property and Casualty Loss and Loss Adjustment Expense Reserves. The Standard does not address the appropriateness of discounting. KEY WORDS: Actuaries, Discounting, Exams - Part 7, Exams - Part 7C, Reserving, Discounting, Risk Margins, Standard of Practice.