Question: Basic Ratemaking, Loss Development. CAS E5. Actuarial Science. Show all works and steps and explanation. 1. Use the paid claims development method to estimate the

Basic Ratemaking, Loss Development. CAS E5. Actuarial Science. Show all works and steps and explanation.

Basic Ratemaking, Loss Development. CAS E5. Actuarial Science. Show all works and steps and explanation. 1. Use the paid claims development method to estimate

1. Use the paid claims development method to estimate the ultimate loss for accident years 2017, 2018 and 2019. Explain the rationale for your selection of development factors. (You may assume that all claims are closed within 120 months.) This data is for personal automobile liability claims. 2. The next set of data is for reinsurance claims. These claims are the ceded portion of losses from many different insurers. Terms of the reinsurance treaties vary between insurers and both terms and ceding companies may vary between years. In other words, this is not the ideal data set for the development method. 20192063 a) Estimate ultimate loss for accident years 2010 through 2019. Assume development factor from 120 Ult is 1.05 . b) Can you quantify a range for the IBNR reserve for accident year 2019? (bonus question)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Basic Ratemaking, Loss Development. CAS E5. Actuarial Science. Show all works and steps and explanation. 4. You have the task of choosing which set of reported loss development factors, based on a...

Research Paper: Topic: Why did the traditional financial risk approaches, methods, and tools fail in the financial market meltdown of 2008 - 2009? Discuss questions DQ #1: How has fair value...

.I SELECTED ! Schedule D:Net Long-Term Capital Gains or Losses only its a team work. I need in 3-4 just just scehdule D I. Title: Preparation of a Corporate Income Tax Return Using IRS Form 1120 II....

Case Summary Read the Discussion Assignment 2-1 on p.34 of the text Technology Adoption by Small Manufacturers. Consider yourself as a health care leader in a small not-for-profit hospital. You have...

I eed help answering the following question. From the reading give a brief summary about each topic. How does the reading discuss operational finance and budgeting? INTRODUCTION To manage...

Questioner of this thesis Journal of Financial Risk Management, 2020, 9, 190-210 https://www.scirp.org/journal/jfrm ISSN Online: 2167-9541 ISSN Print: 2167-9533 DOI: 10.4236/jfrm.2020.93011 Aug. 19,...

Please read the attachment chapters and answer the following questions with at least 50 words. Depreciation discussion What are the various methods of determining depreciation and amortization...

BLC Inc. is a medium-sized manufacturing company based in the UK. The company operates mainly in the London area and is based in Peterborough. At a recent board meeting, the company decided to expand...

How to construct a Cummalitive paid loss of year-end End by Age table r ULM Insurance Company's loss data. loss development. Use the Age-to-Age Development Factors table you con Assignment 7...

Hi, Please help me with responding to the discussion questions below because I'm having a hard time answering them myself. I have been up all night, and I'm unable to figure them out. I uploaded a...

With respect to the comments of Stiles and McCracken concerning for whom the GDP Fund would be appropriate: a. McCracken was correct and Stiles was wrong. b. Both were correct. c. Stiles was correct...

If a firm plans to issue new stock, flotation costs (investment bankers' fees) should not be ignored. There are two approaches to use to account for flotation costs. The first approach is to add the...

Has fraud been committed in this case? Explain. If so , what are Richard s obligations in this regard?

a=2 b= 0 c= 2 d=0 e=0 f=9 g=3 5. Draw the Network diagram for the following project. Estimate the Earliest start time and Latest finish time for each activity. If every day it cost 200 rials for this...