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"Schedule P" reserve

A "Schedule P" reserve is a liability loss reserve relating to the business written by a property-casualty (P&C) insurer that must be shown on Schedule P of the convention blanks required by the National Association of Insurance Commissioners (NAIC).

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Additional Information


The purpose of the reserve is to allow for an evaluation of the financial strength of the insurer over a period of time as losses develop relative to earned premium.

Related Terms


A loss reserve is an estimate of the value of a claim or group of claims not yet paid.

National Association of Insurance Commissioners (NAIC) is a trade association of state insurance...