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The chain-ladder or development [1] method is a prominent [2] [3] actuarial loss reserving technique. The chain-ladder method is used in both the property and casualty [1] [4] and health insurance [5] fields.
Loss reserving is the calculation of the required reserves for a tranche of insurance business, [1] including outstanding claims reserves.. Typically, the claims reserves represent the money which should be held by the insurer so as to be able to meet all future claims arising from policies currently in force and policies written in the past.
Runoff or run-off, another name for bleed, printing that lies beyond the edges to which a printed sheet is trimmed; Runoff or run-off, a stock market term; Runoff voting system, also known as the two-round system, a voting system where a second round of voting is used to elect one of the two candidates receiving the most votes in the first round
Insurance company ratings take into account a number of factors. Besides the finances, the general health and ethics of the company are also considered before rating the insurer. Some other ...
Policy number: This is a unique number assigned to your car insurance policy. This helps your company find your exact policy when you make changes or file a claim.
"Tail" or "extended reporting" endorsements, known as run-off insurance or run-off cover in the UK, [5] cover events that occur while the policy is in force but are reported to the carrier after the policy terminates. The availability of extended reporting policies depends on the carrier, the specific policy, and the reason for terminating ...
Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
3. Health Insurance Premiums. If you got a health insurance plan through the private marketplace or on your own (not through a job) — you may be able to deduct the premiums paid on your tax ...