## Queensland Consolidated Regulations

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WORKERS' COMPENSATION AND REHABILITATION REGULATION 2014 - REG 58

**Actuarial report**
#### 58 Actuarial report

(1) For each calculation of an estimated claims liability amount the approved
actuary must prepare an actuarial report under the actuarial standard.

(2)
The actuarial report must state the following— (a) the amount;

(b) the key
assumptions made for the calculation;

(c) how the key assumptions have been
derived, including— (i) the average amount of claims for compensation
against the employer; and

(ii) the average amount of claims for damages
against the employer; and

(iii) claims anticipated to have been incurred by
the employer for which no formal claim has been lodged; and

(iv) the
frequency of claims for compensation against the employer; and

(v) the
frequency of claims for damages against the employer; and

(vi) the net amount
of the claims after allowing for future inflation (

**"inflated value" **); and

(vii) the net present value of the inflated value
after allowing for income from assets set aside by the employer to pay the
amount; and

(viii) the rate of inflation used;

(d) the nature of the data
used in the calculation;

(e) the actuary’s assessment of the data,
including its accuracy;

(f) how the actuary interpreted the data;

(g) the
actuarial model used in the calculation;

(h) the results of the calculation;

(i) the actuary’s confidence in the results of the calculation.

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