A calculation of a estimated claims liability amount must—
(a) be prepared under the actuarial standard; and
(b) apply a central estimate of the liability; and
(c) apply the risk free rate of return; and
(d) include claims administration expenses of 7% of the liability; and
(e) not include a prudential margin; and
(f) be based, as far as practicable, on the self-insurer’s claims experience; and
(g) be based on the self-insurer’s data as at—(i) the last day of the financial quarter immediately before the anniversary of the day the renewed licence commences; or(ii) another day fixed by the Regulator.