Technical provision definition

Technical provision means a sum calculated on the basis of an expectation and in accordance with the set actuarial methods, which is kept by an insurer in order to cover the liabilities stemming from insurance contracts;
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Technical provision means a sum calculated in reliance to an expectation and in accordance with the set ways, which is preserved in the account of the insurer in order to cover the liabilities stemming from the insurance contracts.
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Related to Technical provision

  • Implementation Services means the supply, configuration and programming of Customer Equipment and/or Services and training where set out in an Order.

  • Technical Data means recorded information, regardless of the form or method of the recording, of a scientific or technical nature (including computer software documentation). The term does not include computer software or data incidental to contract administration, such as financial and/or management information.