Claim Reserves in General Insurance

This paper is concerned with claim reserves in general insurance. General, or non-Life, insurance may be taken to include such classes of business as Motor, Liability, Property, etc., and the claim reserves with which the paper is concerned are usually described as ‘outstanding claims reserves’ or ‘reserves for claims incurred but not reported’ (I.B.N.R.). Each of these reserves falls under the heading of ‘technical reserves’, and may be referred to as ‘provisions’ by the accountancy profession.