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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.
The term "IBNR" is sometimes ambiguous, as it is not always clear whether it includes development on reported claims. Pure IBNR refers to only unreported claims, not any development on reported claims. Incurred but not enough reported (IBNER), in contrast, refers to development on reported claims. For example, when a claim is first reported, a ...
Professional liability insurance (PLI), also called professional indemnity insurance (PII) and commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a negligence ...
In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the total liability of the insurer is the sum of the actuarial reserves for every individual policy. Regulated insurers are required to keep offsetting assets to pay off this future liability.
A term life policy may fit the bill if you want coverage while kids are at home or while paying off a mortgage. Companies may offer $1 million or more in coverage for relatively low monthly premiums.
At $7,000 per year, or about $583 per month, a long-term care policy like this is priced higher than average for what most people can get. According to market data from the American Association ...
For example, if you have a $500,000 term policy and your insurer requires a minimum of $250,000, you could convert half into permanent coverage while keeping the other half as term.
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