Australian Government: Australian Institute of Health and Welfare METeOR Home Page

Reserve

Identifying and definitional attributes

Metadata item type:Help on this termGlossary Item
METeOR identifier:Help on this term460218
Registration status:Help on this termHealth, Standard 07/12/2011
Definition:Help on this termThe dollar amount that is the best current estimate of the likely cost of a claim when closed.
Context:Help on this termThe reserve allows an insurer or self-insurer to monitor its potential financial liability with respect to a claim. The setting of a reserve marks an acknowledgement by an insurer or self-insurer that it may incur costs in closing a claim.

Collection and usage attributes

Comments:Help on this termAn insurer or self-insurer can obtain an estimate of its potential liability for finalising claims that are still open by adding up the outstanding reserve amounts for its claims that are still open. Accordingly, the reserve amounts set against open claims are important for an insurer or self-insurer in its budgeting and funds management.

Source and reference attributes

Submitting organisation:Help on this termAustralian Institute of Health and Welfare
Steward:Help on this termAustralian Institute of Health and Welfare
Origin:Help on this termAustralian Institute of Health and Welfare 2005. Medical Indemnity National Collection (Public sector) Data Guide, Data items and definitions 2003–04. Canberra: AIHW

Relational attributes

Metadata items which use this glossary item:Help on this term

Medical indemnity claim management episode—reserve placement date Health, Standard 07/12/2011

Medical indemnity claim management episode—reserve placement date, DDMMYYYY Health, Standard 07/12/2011

Medical indemnity claim management episode—reserve size, range code N[N] Health, Superseded 21/11/2013

Medical indemnity NBPDS 2014- Health, Standard 21/11/2013

Reserve placement date Health, Standard 07/12/2011

My items Help on this term
Download Help on this term