by Timothy L. Coomer, Ph.D. | Oct 25, 2012 | Loss Control, Training Resources
This blog introduces a graphic that shows the pieces that make up “Ultimate Losses.” The ultimate losses of a policy period will typically not be known for many years. Actuaries are hired to estimate ultimate losses to help a company use appropriate reserve amounts...
by Al Rhodes, ACAS, MAAA | Mar 26, 2012 | Loss Control, Training Resources
A picture can be worth a thousand words. Or, in this case, a “map” can be an easy way to explain how the terminology used by actuaries fits together in one diagram. If you are a broker, you will eventually discuss with some of your clients the following...
by admin | Dec 14, 2011 | Analytical Issues, Loss Development and Trend
In the SIGMA Tech Talk titled “Understanding Loss Development Factors,” we introduced IBNR losses as those losses which occur during a loss period but are not reported until a later date. The definition of IBNR also typically includes development of known claims. In...
