CHP 32: Provisions Flashcards
1
Q
10 reasons for calculating provisions
A
BAD MEDICS
- Benefit improvements for a benefit scheme
- Accounts and reports - published and internal
- Discontinuance / surrender benefits
- Mergers and acquisitions
- Excess of assets over liabilities and so whether any discretionary benefits can be awarded
- Disclosure of information for beneficiaries
- Investment strategy
- Contribution / premium setting
- Statutory solvency reports
