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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. Its intent is to estimate incurred but not reported claims and project ultimate loss amounts. [5] The primary underlying assumption of the ...
Loss development factor. Loss development factors or LDFs are used in insurance pricing and reserving to adjust claims to their projected ultimate level. [1][2] Insurance claims, especially in long-tailed lines such as liability insurance, are often not paid out immediately. Claims adjusters set initial case reserves for claims; however, it is ...
The Bornhuetter–Ferguson method was introduced in the 1972 paper "The Actuary and IBNR", co-authored by Ron Bornhuetter and Ron Ferguson. [4][5][7][8] Like other loss reserving techniques, the Bornhuetter–Ferguson method aims to estimate incurred but not reported insurance claim amounts. It is primarily used in the property and casualty [5 ...
AXIS Capital Announces Publication of the Company's 2012 Loss Development Triangles PEMBROKE, Bermuda--(BUSINESS WIRE)-- AXIS Capital Holdings Limited ("AXIS Capital") (NYS: AXS) today announced ...
Validus Holdings, Ltd. Releases 2012 Loss Development Triangles PEMBROKE, Bermuda--(BUSINESS WIRE)-- Validus Holdings, Ltd. (NYS: VR) ("Validus") today announced that it has published its 2012 ...
Validus Releases 2011 Loss Development Triangles PEMBROKE, Bermuda--(BUSINESS WIRE)-- Validus Holdings, Ltd. (NYS: VR) ("Validus") today announced that it has published its 2011 Loss Development ...
Incurred but not reported. In insurance, incurred but not reported (IBNR) claims is the amount owed by an insurer to all valid claimants who have had a covered loss but have not yet reported it. Since the insurer knows neither how many of these losses have occurred, nor the severity of each loss, IBNR is necessarily an estimate.
Arnold Harberger. Arnold Carl Harberger (born July 27, 1924) is an American economist. His approach to the teaching and practice of economics is to emphasize the use of analytical tools that are directly applicable to real-world issues. His influence on academic economics is reflected in part by the widespread use of the term "Harberger ...