# The General Insurers’ Technical Provisions (Appropriate Amount) (Tax) Regulations 2009, Regulation 7: Estimated amount of claims outstanding where conditions in regulation 5 are not satisfied

Extent: E+W+S+N.I.

(1) This regulation applies in a case where any of conditions A to C in regulation 5 is not satisfied.
(2) For the purposes of regulation 4, the amount of the liabilities in respect of claims outstanding arising from the general insurer’s general business is the general insurer’s undiscounted best estimate of the future cash flows in respect of claims outstanding.
(3) For the purposes of paragraph (2)—
(a) the reference to “best estimate” shall be construed as a reference to the mean of the distribution of the potential outcomes of the claims to which the estimate relates, and
(b) the best estimate of the future cash flows must be the best estimate available at the time at which the technical provisions are adopted by the general insurer.

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Source: https://www.legislation.gov.uk/uksi/2009/1926/regulation/7 (the official version)
Page: https://openlegislation.uk/general-insurers-technical-provisions-appropriate-amount-tax-regulations-2009/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.