Principles for Doing Business at Lloyd's
Principle 6: Reserving – Principles for Doing Business at Lloyd's

Principles for Doing Business at Lloyd's P6.4: 6.4 Identify, understand and justify differences in assumptions between reserving and other functions

Differences between reserving assumptions and those of other functions (capital, pricing, planning, underwriting, claims, reinsurance, exposure management) are identified, understood and justified. Baseline: occasional feedback loops with some documentation of differences; early trend insights from other functions used; material differences discussed and justified at committee. Higher levels add regular feedback loops, documented and owned difference logs updated annually, data-evidenced justification and inclusion in uncertainty quantification.

Maintained by Gerard Blokdyk

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