A&E Exposure Disclosures
I noticed that the required disclosures for A&E Exposures are different in the Notes to Financial Statements then they are for SSAP 65. Namely the note on the 5 year breakout, separately for Asbestos and Environmental, of beginning & ending reserves, incurred loss & LAE, and Calendar Year paid loss & LAE.
Per the Notes to Financial statements, that breakout should be done on a direct, net, and assumed basis.
Per SSAP 65, that breakout should be done on a gross and net basis.
I'm assuming that SSAP 65 is referring to what is required in the Notes to Financial Statements, so which version is correct?
Comments
I don't have specific knowledge of this beyond the syllabus but here's what I think: