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PIN 5.4.8 Guidance

The liability referred to in PIN Rule 5.4.8 is commonly referred to as the liability for outstanding claims. Some insurers represent this liability as three separate provisions, being the liability in respect of reported claims, the liability in respect of claims incurred but not reported, and the liability in respect of settlement costs, also known as loss adjustment expenses.


Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]