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

Mr. Simon's discussion of regression equations and of the need for continuously testing the homogeneous character of the data we are tabulating is more than just pertinent. It brings into effective focus an understanding of the substantial amount of detailed and continuous testing that is being carried forward in connection with these data. The purpose of these tests is twofold. Initially each monthly tabulation must be reviewed to determine known procedural change effects. Secondly, and only after such validation, it must be combined with prior data and current values for the various factors used procedurally must be re-computed and tested.