Thanks!
I originally had it in my head the other way around, e.g if only one model is used to derive a distribution of reserves then it includes model uncertainty (as only one model is being used).
I will now remember that model uncertainty is quantified if we use a range of models to calculate the reserves (if I replace the word error/uncertainty with variability the concept seems to make more sense to me).
Thanks for your help Katherine.
Last edited by a moderator: Sep 20, 2019