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outstanding claims advance - translation to russian
2) рост, повышение (цен), увеличение || повышать(ся), увеличивать(ся)
3) выдвигать (напр. гипотезу)
4) аванс; авансирование || авансировать
5) заём, ссуда || давать ссуду, ссужать
6) предупреждение (напр. об увольнении)
- advance against goods
- advance against security
- advance free of interest
- in advance
- advance in living standard
- advance in price
- advance in the cost of living
- advance on crops
- advance on current account
- advance secured on merchandise
- advance an argument
- ask for an advance
- grant an advance
- advance money on securities
- obtain an advance of money
- advance of capital
- advance of wages
- cash advance
- collateral advance
- economic advance
- farming advance
- freight advance
- index advance
- industrial advance
- money advance
- outstanding claims advance
- price advance
- progressive advance
- scientific-and-technological advance
- secured advance
- self-liquidating advance
- technical advance
- technological advance
- travel advance
- uncovered advance
- ways and means advance
Definition
Wikipedia
Loss reserving refers to the calculation of the required reserves for a tranche of general insurance business. It includes outstanding claims reserves.
Typically, the claims reserves represent the money which should be held by the insurer so as to be able to meet all future claims arising from policies currently in force and policies written in the past.
Methods of calculating reserves in general insurance are different from those used in life insurance, pensions and health insurance since general insurance contracts are typically of a much shorter duration. Most general insurance contracts are written for a period of one year, and typically there is only one payment of premium at the start of the contract in exchange for coverage over the year. Reserves are calculated differently from contracts of a longer duration with multiple premium payments since there are no future premiums to consider in this case. The reserves are calculated by forecasting future losses from past losses.
