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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.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
California's Department of Insurance released rules meant to encourage insurers to write more policies in high-fire-risk areas by using computer modeling.
Collision insurance: Collision insurance is a type of auto coverage that pays for damage to your vehicle resulting from collisions with another vehicle or object, even if you are at fault.
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
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Heinrich was a pioneer in the field of workplace health and safety. He worked as an assistant superintendent for an insurance company and wanted to reduce the number of serious industrial accidents. He commenced a study of more than 75,000 accident reports from the insurance company's files as well as records held by individual industry sites. [2]