Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Given the following information for claims associated with a commercial auto policy written in 2017: i. Calculate the calendar year 2017, 2018, 2019 and 2020
Given the following information for claims associated with a commercial auto policy written in 2017:
i. Calculate the calendar year 2017, 2018, 2019 and 2020 incurred losses
ii. Calculate the accident year 2018 incurred loss @ 12/31/2018, @ 12/31/2019, @ 12/31/2020
iii. Calculate policy year 2017 incurred loss @ 12/31/2017, @ 12/31/2018, @ 12/31/2019, @12/31/2020
iv. Calculate policy year 2018 incurred loss @ 12/31/2020
Case Reserve as of Transaction Date Claim # Accident Year 2017 Loss Payment 100 1 400 1 2017 300 900 1 2017 600 0 2 2017 2000 2500 2 2017 Transaction Date 6/1/2017 7/1/2018 7/1/2019 5/1/2018 7/1/2019 3/1/2018 3/1/2019 3/1/2020 5/15/2019 7/1/2020 2500 2018 300 600 3 2018 250 150 3 3 2018 500 o 4 2018 0 2500 4 2018 0 0Step 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