Regulation 8 Provisions supplementing regulations 5 and 7I1

all generic technical actuarial standards and relevant specific technical actuarial standards published by the Board for Actuarial Standards in relation to the performance of actuarial functions, or

where the general insurer is not resident in the United Kingdom, such other standards or provisions of the law of the territory in which the general insurer is domiciled as may reasonably be regarded as equivalent in effect to the standards referred to in sub-paragraph (a).

the nature or type of risks to which the liabilities in respect of claims outstanding relate, and

the volatility and uncertainty associated with those risks.

on the basis of general insurance business reporting categories described in Annex 11.3 to Chapter 11 of Volume 1 of IPRU(INS), or

on the basis of grouping of risks in accordance with the descriptions of accounting classes for general insurance business set out in Appendix 9.16 to Volume 2 of IPRU(INS).

net of reinsurance ceded, and

in accordance with paragraph 53 of Schedule 3 to the Accounts and Reports Regulations.

the expense of handling a future claim (whether allocated or unallocated), and

a future claim which has been incurred as a liability of the general insurer but which is—

to the time at which the directors of the general insurer approve the general insurers’ annual accounts for the purposes of section 414 of the Companies Act 2006^f2;

in the case of a general insurer to which that section does not apply, to such similar time as may apply under equivalent provisions of the law of the territory in which the general insurer is domiciled; or

in the case of general business carried on by a permanent establishment in the United Kingdom of a general insurer which is not resident in the United Kingdom and for which accounts of the permanent establishment are prepared for the period of account, the time at which the general insurer approves those accounts.