Claims inflation provisions need ‘realistic assumptions’: PRA
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Claims inflation provisions need ‘realistic assumptions’: PRA

Aisling Finn
21 October 2022
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Because the impact of inflation varies among different lines of business and geographies, UK insurers must calculate claims provisions using “up-to-date, credible information and realistic assumptions”, the Prudential Regulation Authority (PRA) has said.

In its thematic review of general insurance and capital modelling, the PRA suggested additional reporting surrounding inflation would help counter “additional uncertainty around future claim settlement costs”.

The

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