Trend and Loss Development Factors [Discussion]

I intend no disparagement whatsoever of the body of Mr. Cook’s paper when I say that one of the most illuminating parts is his introduction. As he points out, there are misconceptions, misunderstandings, and confusions; and I can testify to the fact that at least one actuary accepted the trend - development overlap fallacy. In the face of all this, it is indeed surprising that so little has been written on this subject. Hopefully, Mr. Cook’s work will be the spur to further scholarly discussion.