UK general insurers are being urged to get to grips with the impact that growing numbers of periodical payment orders (PPOs) will have on their reserves and asset liability matching frameworks.
PPOs are large motor and/or liability claims that are paid out in annual increments for the duration of the claimant's life, similar to an annuity. The amount payable depends on the severity of the injury and resulting care needed by the claimant, with cashflows indexed to the Annual Survey of Hours and
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