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Year-end 2021 Actuarial Report Prep

by Michelle Bradley, ACAS, MAAA, ARM, CERA | Nov 4, 2021 | Collateral Issues, Loss Development and Trend, Training Resources

November is here, and the time is quickly approaching for most companies to complete their annual actuarial report for retained liabilities. As you begin preparing for your company’s year-end 2021 analysis, review the list of tips below to help ensure this process is...

Reserve Reconciliations

by Lori Ussery, Actuarial Consultant | 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,...

Components of a Loss Analysis

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...

The Bornhuetter-Ferguson Method

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...

Knowing the Risks of Using Internal Calculations

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...

The Balance of Quantitative Measures and Qualitative Information, a Community Effort

by Lori Ussery, Actuarial Consultant | 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...
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