-15-
For the years in issue, petitioner’s reserve analyses show
“redundancies” (excesses) in its case reserves in the following
amounts:
Year Redundancy
1993 $129,374
1994 1,159,685
1995 1,751,656
Petitioner’s Reporting of Loss Reserves for Annual Statement
Purposes
Each year, pursuant to State law, petitioner appoints a
qualified actuary before yearend for purposes of obtaining a
loss reserve opinion for that year. Shortly after yearend,
petitioner estimates its final unpaid loss reserve and submits
material to the qualified actuary for purposes of the actuary’s
review for its loss reserve opinion. Each February, the
qualified actuary issues her statement of actuarial opinion
regarding petitioner’s loss reserve. Each March, petitioner
files its annual statement with the department and the NAIC.
13(...continued)
adjusted:
Year of Estimate
Loss Year 1993 1994 1995 1996 1997
1993 94.7% 80.3% 60.0% 43.2% 44.2%
1994 83.1 67.0 60.2 42.5
1995 102.2 79.7 77.9
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