Problem 4. You are given following information for three claims Claim #1 Occurrence date Report date 1st payment 2nd payment Oct 1, CY4 Dec 15, CY4 $500 on Dec 25, CY4$2000 on Jan 15, CY6 Claim #2 Occurrence date Report date lst payment 2nd payment Jan 10, CY5 Feb 1, CY6$1000 on Mar 1, CY6$5000 on Jun 1, CY6 Claim #3 Occurrence date Report date Jul 12, CY5 Nov 1, CY5 1st payment None 2nd payment None Table 3: Three Claims On Dec 31, CY6, you obtained the following information on unpaid case loss reserves (ULR) for each of CY4, CY5 and CY6 Date Dec 31, CY4 Dec 31, CY5 Dec 31, CY6 ULR for claim #1 | ULR for claim #2 | ULR for claim #3 $500 $500 $3000 $2000 Table 4: Unpaid case loss reserves (a) On Dec 31, CY5, identify all IBNR claims (b) On Dec 31, CY5, determine the total incurred losses for calendar year CY5 (c) On Dec 31, CY6, determine the total incurred losses for calendar year CY6 (c) On Dec 31, CY6, determine the total incurred losses for accident year AY5 Problem 4. You are given following information for three claims Claim #1 Occurrence date Report date 1st payment 2nd payment Oct 1, CY4 Dec 15, CY4 $500 on Dec 25, CY4$2000 on Jan 15, CY6 Claim #2 Occurrence date Report date lst payment 2nd payment Jan 10, CY5 Feb 1, CY6$1000 on Mar 1, CY6$5000 on Jun 1, CY6 Claim #3 Occurrence date Report date Jul 12, CY5 Nov 1, CY5 1st payment None 2nd payment None Table 3: Three Claims On Dec 31, CY6, you obtained the following information on unpaid case loss reserves (ULR) for each of CY4, CY5 and CY6 Date Dec 31, CY4 Dec 31, CY5 Dec 31, CY6 ULR for claim #1 | ULR for claim #2 | ULR for claim #3 $500 $500 $3000 $2000 Table 4: Unpaid case loss reserves (a) On Dec 31, CY5, identify all IBNR claims (b) On Dec 31, CY5, determine the total incurred losses for calendar year CY5 (c) On Dec 31, CY6, determine the total incurred losses for calendar year CY6 (c) On Dec 31, CY6, determine the total incurred losses for accident year AY5