2016 loss payment patterns, salvage discount factors | KPMG | US

Insurance: 2016 loss payment patterns, salvage discount factors

2016 loss payment patterns, salvage discount factors

The IRS today released advance copies of two annual revenue procedures with guidance for use by property and casualty insurance companies in computing discounted unpaid losses and salvage recoverable for the 2016 accident year.


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  • Rev. Proc. 2016-58 [PDF 166 KB] provides the loss payment patterns and discount factors for the 2016 accident year, to be used by property and casualty insurance companies to compute discounted unpaid losses under section 846.
  • Rev. Proc. 2016-59 [PDF 106 KB] provides the salvage discount factors for the 2016 accident year, to be used to compute estimated salvage recoverable under section 832.

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