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Luxottica Group, S.p.A. (LUX)
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LUX » Topics » Managed Vision Care Underwriting and Expenses-

This excerpt taken from the LUX 20-F filed Jun 29, 2005.
Managed Vision Care Underwriting and Expenses—The Company sells vision insurance plans which generally have duration of up to two years. Based on its experience, the Company believes it can predict utilization and claims experience under these plans, including claims incurred but not yet reported, with a high degree of confidence. Claims are recorded as they are incurred and certain other membership costs are amortized over the covered period.

 

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