General Liability Insurance Ratemaking [Discussion]

One of the more tedious and even discouraging tasks facing the student preparing himself for an actuarial career is gaining an understanding of the various ratemaking systems being used in property and casualty insurance. His search for the rationale and background behind the numerous steps in the ratemaking process may take him through rate filings (assuming he can readily obtain them) and through thick files. Even then he may not have all of his questions answered. A paper such as Jeffrey Lange’s "General Liability Ratemaking" is therefore indeed welcomed. Here, a single source provides a broad outline of the ratemaking systems used in a major line of insurance, and in turn gives direction for further research and study.