This is the amount, as at the relevant date, by which the outstanding claims liability (OCL), as determined in accordance with accounting standards, exceeds (or is in deficit of) the equivalent figure determined in accordance with prudential standards.OCL relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCL must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCL must not include any Government charges directly imposed on the insurer such as levies, duties and taxes.