Výročná správa 2009 - Komunálna Poisťovňa

(All amount are in thousands of Euros, unless stated otherwise)15.1 Short-term insurance contracts – assumption, change in assumptions andsensitivityProcess used to decide on assumptionsThe Company uses various statistical methods including various parameters, which are estimatedfor the ultimate loss calculation. The Company uses mainly the ‘Chain-Ladder’ method,which is used mainly for stabile insurance products with stabile future developments.The basic technique involves the analysis of historical claims development factors and theselection of estimated development factors based on this historical pattern. The selected developmentfactors are then applied to cumulative claims data for each accident year that is not yet fullydeveloped to produce an estimated ultimate claims cost for each accident year.There are no other significant assumptions identified in non-life insurance which could have amaterial impact on liabilities (for example, assumed inflation has a very low impact on a possiblechange in liabilities)Analysis of claim provisions – without reinsurance:Accounting period 2005 2006 2007 2008 2009 TotalEstimate of ultimate claims costsAt the end of the reporting year 17,230 12,791 32,767 34,307 31,531- One year later 18,587 12,852 33,049 32,666 -- Two years later 17,750 13,134 30,840 - -- Three years later 17,576 12,097 - - -- Four years later 17,412 - - - -Current estimate of cumulativeclaims17,412 12,097 30,840 32,666 31,531 124,366Cumulative payments to date (16,802) (8,993) (25,848) (25,987) (16,892) (94,522)Liabilities recognized in the balancesheet610 3,104 4,992 6,679 14,459 29,844Liabilities in respect of prior550years (before 2004)Total liability included in the balance30,394sheetAccounting period 2004 2005 2006 2007 2008 CelkomEstimate of ultimate claims costsAt the end of the reporting year 14,816 12,714 32,601 34,219- One year later 13,984 12,746 32,875 -- Two years later 12,836 13,031 - -- Three years later 12,735 - - -- Four years later 12,391 - - -Current estimate of cumulativeclaims12,391 13,031 32,875 34,219 109,947 109 947Cumulative payments to date (12,092) (8,726) (24,815) (19,249) (81,403) -81 403Liabilities recognized in thebalance sheet299 4,305 8,060 14,970 28,544 28 544Liabilities in respect of prioryears (before 2003)509 509Total liability included in thebalance sheet29,053 29 053Ročná účtovná závierka a komentár I Company Accounts177