ALAE/ULAE; How many sets of books?

Jerry Tuttle ( (no email) )
Thu, 30 Jul 1998 09:00:33 EDT

As I understand it, ALAE/ULAE are defined
differently for: 1. NAIC annual statements, 2.
bureau statistical plan reporting (where even the
two major bureaus' definitions are not identical),
and 3. reinsurance contracts (which are not
required to use either of the first two definitions).

The conscientious insurer should then be keeping
several sets of books to satisfy each use of
ALAE/ULAE. Does anybody really believe this is
being done?

Jerry Tuttle

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