by Lori Ussery | Aug 18, 2021 | Loss Development and Trend, Self-Insurance, Captives and Pool Issues, Training Resources
Most companies and their consulting actuaries complete an actuarial analysis annually at minimum in order to assist in determining booked reserves for outstanding losses & LAE in their year-end financial statements. As the estimates are revised year to year,...
by Timothy L. Coomer, Ph.D. | Jun 7, 2019 | Loss Development and Trend
A workers compensation loss analysis can be utilized in a number of ways depending on the situation and needs of the user. Reserve certification, satisfaction of self-insurance requirements, negotiation of security requirements and letters of credit, insurance...
by Lucy Zhang and Enoch Starnes, ACI | Feb 14, 2019 | Loss Development and Trend
Actuaries will use multiple actuarial methods to determine the estimated ultimate losses when completing an actuarial analysis of unpaid claim liabilities. The Bornhuetter-Ferguson (B-F) method and the development methods (also known as chain ladder methods) are two...
by Michelle Bradley, ACAS, MAAA, ARM, CERA | Aug 27, 2018 | Loss Development and Trend
Many companies don’t believe that their retained liabilities are big enough or complex enough to warrant hiring an actuary. Therefore, internal calculations are often completed using spreadsheets or various software tools. In some situations, these calculations may...
by Lori Ussery | Mar 6, 2018 | Loss Development and Trend, Training Resources
Early last year, I visited the USS Midway Museum in San Diego. The museum offers tours of the decommissioned aircraft carrier, led by docents, many of whom served on the USS Midway or another vessel. As I toured the bridge and entered the chart room, the docent...
by Enoch Starnes, ACI | Dec 13, 2017 | Loss Control, Loss Development and Trend
What is silent evidence? How can I look for it? What benefit does it provide? As technology advances, companies are continuing to get better and better at capturing, manipulating, and examining data. One of the many results of this improvement is that the ability to...
