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Understanding Loss Development Factors

By SIGMA Actuary on October 3, 2011

Whether you are a broker, CFO, or risk manager, you have probably heard the terms loss development triangle, loss development factor, and IBNR (incurred but not reported losses). These are often included in the first analytical step of an actuarial analysis. Yet a survey of insurance professionals would likely result in a long list of […]

Defending the Middle Market – Start by Inviting SIGMA to your Office!

By Timothy L. Coomer, Ph.D. on August 25, 2011

Having just returned from a month of castle touring throughout England, Scotland, and Wales, I can’t help but see actuaries in a defensive posture helping to defend your kingdom and all those middle market accounts! I thought about writing a grand 14th century analogy – but, decided to spare you. In 2010, we sold Specific […]

What is IBNR?

By Jeff Adcock, FCAS, MAAA on August 3, 2011

An underwriter once emailed me declaring that the IB and R load was too high on a particular account. I never had the heart to ask him what the letters I, B, or R signified in that statement, but obviously that must be what IBNR sounds like when pronounced too fast or with an accent. […]

Common Mistakes Using Loss Development Factors

By Michelle Bradley, ACAS, MAAA, ARM, CERA, CCIS on July 6, 2011

The narrative support to an actuarial report or analysis normally contains a summary of loss development and loss development factors similar to this: The ultimate cost of claims reported in a specific time period is usually not known until several years after the close of that period. Therefore, loss development factors are used to project […]

SIGMA’s 2010 Collateral Survey Indicates Collateral Difficulties Continue

By Michelle Bradley, ACAS, MAAA, ARM, CERA, CCIS on June 15, 2011

Welcome to SIGMA Actuarial Consulting Group, Inc.’s new RiskManagementBlog. After several years of publishing an award winning blog with our former sister company, Specific Software Solutions, LLC (acquired by Zywave in 2010) SIGMA has now launched its own blog. Please be sure to register for future blog notifications by visiting www.SIGMAactuary.com/register. The results of our […]

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