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 terms and how they all work together: […]

Note: The following article uses workers compensation as an example only. The technique is applicable to any line of coverage. A very effective method to measure the impact of a loss control program is an analysis of losses versus payroll. This statistic is called the pure loss rate. The pure loss rate is calculated by […]