financial reporting for publicly traded companies in the EU will mean that the insurance industry will have to develop a much sharper focus on actuarial processes and claims run-off projections. The IASs are due to be introduced in the EU during 2005. been gestating since 1997. potential source of problems for non-life insurers. outstanding claims liabilities and settlement patterns. MVMs are to be calculated. different classes of insurance. some non-life insurers. recorded and recognized at the time a contract is written. underwriting results from the year of contract inception. business. products will need to be re-examined. accounting standards.
Subscribe for Maritime Reporter E-News
Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week