Q. Why do underwriters study the pattern of reserves development?

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Q. How do underwriters utilize specific claims histories?

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Q. What does the Unearned Premium Reserve represent?

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Q. How are reserves calculated in practice for the Unearned Premium Reserve?

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Q. What is the purpose of the Unexpired Risk Reserve?

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Q. What does the Outstanding Claims Reserve represent?

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Q. What does IBNR stand for in the context of claims reserves?

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Q. What is one of the main challenges for insurers regarding IBNR reserves?

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Q. What is the purpose of a Claims Equalisation Reserve?

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Q. Apart from technical reserves, what other types of reserves do insurers create?

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Q. What are hidden reserves?

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Q. What is the primary purpose of the reserving policy in insurance?

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Q. How are estimates for smaller and simpler claims typically determined?

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Q. What approach is taken for larger and more complex claims?

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Q. Why is it crucial to revisit claims reserves regularly?

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Q. Why is it important for sub-classes to be as homogeneous as possible?

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Q. What challenge arises when building in IBNR and reported claims development into sub-class reserves?

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Q. How can the impact of fundamental changes on claims be addressed in reserve estimation?

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Q. What is the fundamental concept behind Modern Portfolio Theory (MPT)?

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Q. What trade-off does investing entail according to Modern Portfolio Theory?

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