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In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the total liability of the insurer is the sum of the actuarial reserves for every individual policy. Regulated insurers are required to keep offsetting assets to pay off this future liability.
In the spring of 2012, Florida Governor Rick Scott stated in a survey with the Florida Council of 100 that Citizens Insurance had $504.8 billion in risk and just $6.1 billion in cash reserves. PolitiFact Florida, a fact checker of the Tampa Bay Times and Miami Herald, researched Scott's claims. They concluded that while the company did have ...
Even if the regulatory standards are the same, the reinsurer may be able to hold smaller actuarial reserves than the cedent if it thinks the premiums charged by the cedent are excessively conservative. The reinsurer may have a more diverse portfolio of assets and especially liabilities than the cedent.
One specialist says HOA reserves don't need to be “fully funded.” 'This problem is not going away': An entire Florida homeowners association board just quit after $60K special assessment ...
Nobody likes paying homeowners association dues, or for HOA reserves. But if you want a decent, safe, well maintained community in Florida, you pay.
Legal expert tackles more questions about structural integrity reserves. Also,can HOA board ban non-owners from meetings?
The size of a CRVM reserve, as with most life reserves, is affected by the age and sex of the insured person, how long the policy for which it is computed has been in force, the plan of insurance offered by the policy, the rate of interest used in the calculation, and the mortality table with which the actuarial present values are computed.
The chain-ladder or development [1] method is a prominent [2] [3] actuarial loss reserving technique. The chain-ladder method is used in both the property and casualty [1] [4] and health insurance [5] fields. Its intent is to estimate incurred but not reported claims and project ultimate loss amounts. [5]