This is the value, as at the relevant date, of the central estimate component of outstanding claims provision (OCP), net of any recoveries that relate to the gross OCP, determined in accordance with relevant prudential standards.OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges imposed such as levies, duties and taxes.The central estimate will be measured as the present value of the future expected payments i.e. discounted for future investment income, determined in accordance with relevant prudential standards. 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 so does not include any risk margin.