PET - Plain English Taxonomy

Attribute: R12675
Concept:
Label: Outstanding Claims Liabilities Gross of Recoveries
Concept Guidance:
For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference 
Dimensions
Dimension Member Description
(RiskMargin)
This dimension identifies the measurement scenario under which the reported value was calculated.
The value reported is the risk margin. The risk margin is the component of the value of liabilities that relates to the inherent uncertainty that outcomes will differ from the central estimate.The risk margin relates to the central estimate measured as the present value of the future expected payments net of any recoveries i.e. discounted for future investment income. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and the risk margin, when added to the central estimate, is intended to increase the likelihood that the liabilities will be sufficient to the level required in relevant accounting standards.
This dimension categorises reported data according to predefined product groups.