This paper provides a detailed description of a new measure of reserve error, the Full Information Reserve Error (FIRE), which was first proposed by Grace and Leverty (2018). We briefly describe the philosophy of FIRE and its advantages. We then present the details on how to calculate it. We...

States levy insurance premium taxes, which are essentially gross receipt taxes on premiums. A very unusual characteristic of insurance premium taxes is that in each state in which an insurance company writes premiums, the firm pays the higher of the tax rate in the state in which the company is...