Insurance solvency reserve definitions establish how IFSC insurers classify claim, premium, and unexpired-risk liabilities for regulatory calculations.

Claim reserves comprise outstanding claim reserves and incurred-but-not-reported claim reserves. Outstanding claim reserves cover reported claims outstanding at the accounting date, including allocated loss adjustment expenses. Incurred-but-not-reported claim reserves include reopened, unreported and in-transit claims, allocated loss adjustment expenses, and reserves for expected changes in reported-claim estimates. Unexpired risk reserves comprise unearned premium reserves and premium deficiency reserves for unexpired policy risks and expected deficiencies in meeting claims and related expenses.

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