Month of Loss Deficiency Reserves for Automobile Bodily Injury Losses Including Reserves for Incurred But Not Reported Claims [Discussion]

Mr. Tapley's paper is very interesting and clearly presented. A second reading is strongly recommended because it will reveal a number of subtle points that may have been slighted in the first reading. The philosophy of the deficiency reserve approach is quite stimulating to the imagination and should provoke some interesting discussions among actuaries as well as within companies. People concerned with claims procedures and those concerned with developing figures for the financial statements of the company are often not actuaries, and this approach will take a great deal of salesmanship on our part.