CA-5.1.9
Past version: Effective from 01 Jul 2007 to 30 Sep 2009
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The level of claims provisions must be set such that:
(a) No adverse run-off deviation is envisaged;
(b) The provision is determined having regard to the range of uncertainty as to the eventual outcome for the category of business in question; and
(c) In circumstances where there exists considerable uncertainty concerning future events, a degree of caution is exercised such that liabilities are not understated.
Amended: January 2007