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Issue detail

5. Non-life insurance services
Issue description and recommendation

Several instances of massive insurance claims, notably those from the 11 September terrorist attack, focused attention on the measurement of non-life insurance services when catastrophic losses occur. This necessarily involves considering the treatment of reinsurance also. The output of insurance services as calculated using the 1993 SNA algorithm depends on the balance of premiums and claims (on an accrual basis). Output can therefore be extremely volatile (even negative) following major catastrophes, and this volatility impacts on GDP and balance of payments (reinsurance). The objective of the review is to propose measures that would be more consistent with the perception of production in this activity. In particular, medium- to long-term aspects of non-life insurance are to be taken into consideration. The issue will also cover the measurement of production of non-life insurance services in volume terms.

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Chapters affected by this issue, and their status (For more information click corresponding chapter from the list)
  No draft yet, AEG/world review draft, Final draft
6. The production account
7. The distribution of income accounts
8. The redistribution of income accounts
10. The capital account
11. The financial account
15. Price and volume measures
17. Cross-cutting and other special issues
26. The rest of the world accounts

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