GIM6010 - Technical provisions: background

The paragraphs below explain the 바카라 사이트˜unearned premium provision바카라 사이트™ (UPP) and the 바카라 사이트˜unexpired risks provision바카라 사이트™ (URP). Strictly, the unearned premium provision is a deferred income item rather than a true provision. Remember that the most significant items within technical provisions are the provisions against claims outstanding and claims incurred but not yet reported - see GIM2170 for general accounting background. They also give guidance on the tax treatment of technical provisions according to established principles.

See GIM6145 to GIM6440 regarding the special rules of FA00/S107 which applied for periods from 1 January 2000 and periods ending before 19 July 2007, and GIM6500+ for the rules which (broadly) apply for periods from 1 January 2009.

  1. GIM6020
    Unearned Premium Provision
  2. GIM6030
    Unexpired Risks Provision
  3. GIM6040
    Unexpired Risks Provision: differences between accounts and regulatory return
  4. GIM6050
    Unexpired Risks Provision: discounting
  5. GIM6060
    Unexpired Risks Provision: exchange gains and losses
  6. GIM6070
    Unexpired Risks Provision: mortgage indemnity business
  7. GIM6080
    General
  8. GIM6090
    Accounting practice
  9. GIM6100
    Reported claims and 'incurred but not reported' (IBNR)
  10. GIM6110
    Salvage, subrogation and reinsurance recoveries
  11. GIM6120
    Exchange gains and losses
  12. GIM6130
    Claims handling expenses
  13. GIM6140
    Enquiries