Insurance - 2013 loss payment patterns, discount factors, salvage discount factors 

November 18: The IRS today released advance copies of two annual revenue procedures with guidance for use by property and casualty insurance companies to compute loss payment patterns, discount factors and salvage discount factors for the 2013 accident year.
  • Rev. Proc. 2013-36 [PDF 406 KB] provides the loss payment patterns and discount factors for the 2013 accident year, to be used by property and casualty insurance companies to compute discounted unpaid losses under section 846.
  • Rev. Proc. 2013-37 [PDF 152 KB] provides the salvage discount factors for the 2013 accident year, to be used to compute estimated salvage recoverable under section 832.



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