Abstract
Introductory reserving concepts are defined and discussed, including claim payment patterns and case reserving techniques. Various reserving methods are discussed including loss ratios estimates, chain ladder methods, the Bornhuetter-Ferguson approach, as well as the use of counts and average values. Loss reserve discounting is also addressed. Sample problems and solutions are provided.
KEY WORDS: Actuaries, Appointed Actuary, Bornhuetter-Ferguson, Chain Ladder Methods, Claim Settlement Lags, Counts and Average Values, Discounting, Loss Ratio Method, Reserving, Discount, Reserving, General, Reserving, Salvage and Subrogation.
Year
1993
Categories
Actuarial Applications and Methodologies
Reserving
Discounting of Reserves
Actuarial Applications and Methodologies
Reserving
Reserving Methods
Actuarial Applications and Methodologies
Reserving
Salvage and Subrogation
Actuarial Applications and Methodologies
Accounting and Reporting
Publications
Introduction to Ratemaking and Loss Reserving for Property and Casualty Insurance
