Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2. You are given the following information regarding cumulative incurred losses for a block of business: Development Years EarnedExpected 4 Premium Loss Ratio Accident Year
2. You are given the following information regarding cumulative incurred losses for a block of business: Development Years EarnedExpected 4 Premium Loss Ratio Accident Year AY1 AY2 16000 15500 16000 16200 AY3 17200 18000 19000 AY4 18500 18300 AY5 20000 2 15000 15500 15800 16000 16200 25000 0.648 0.630 27000 0.640 30000 33000 35000 0.650 0.650 Losses are mature at the end of 4 years. Calculate the IBNR reserve using the loss ratio method
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started