Indie over-reserving problem turned 180 degrees over time
Independent’s reserving position moved from one that appeared to routinely produce outstanding reserves that later settled at hefty discounts to one that by the end was producing reserves that were over-optimistic, writes Mark Geoghegan .
With former director of claims Patricia Clarkson still in the witness stand, arguments for both the prosecution and the defence cited the company’s regular GCD reports.
The court heard that in the mid
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