Licentiate Examination - IC 11 - Practice of General Insurance Exam - Important Points
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The process of claims reserving is at operational level and its accuracy is critical.
Insurance companies follow two basic investment theories - Modern Portfolio Theory and Asset Liability Management.
Insurance Accounting - basically the same as other industries but with some differences in view of the way insurance sector works.
Reserves for unexpired risks comes under the Technical Reserves heading
Every insurer will have claims that, for some reason or other, have not yet been reported and the insurer does not know about. Such claims are called as - IBNR (Incurred But Not Reported)
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