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ActEdStudent
Member
This question is about the distinction in the technical reserves required between accident-year and three-year accounting. The answer says that IBNR should be less of an issue for three-year accounts and the reserves do not need to be determined until the end of third year. This is not how it works in practice though is it? You would estimate IBNR reserves more regularly than waiting for the three years to pass and the year of account to close?