Question 1 Policyholder X has a one-year policy effective 1/1/2013 and has the following loss experience (valued as of 3/31/2013 Accident #1 Date of accident 2/1/2013 Claim reported to insurance company 7/1/2014 Original reserve of $500 established 8/1/2014 Reserve raised to $10,000 2/1/2015 Claim settled and paid for $5,000 1/15/2016 Accident # 2 Date of accident 4/1/2013 Claim reported to insurance company 6/1/2013 Original reserve of $1,000 established 8/1/2013 Claim payment of $1,000 2/1/2014 Accident #3 Date of accident 1/1/2014 Claims reported to insurance company 6/1/2014 Original reserve of $3,000 established 9/1/2014 Reserve raised to $4000 2/1/2015 Claim still outstanding as of 3/31/2016 Compute the incurred losses for the following: a) Accident year 2013 (as of 39 months) b) Accident year 2014 (as of 27 months) c) Calendar year 2014 d) Calendar year 2015 Question 1 Policyholder X has a one-year policy effective 1/1/2013 and has the following loss experience (valued as of 3/31/2013 Accident #1 Date of accident 2/1/2013 Claim reported to insurance company 7/1/2014 Original reserve of $500 established 8/1/2014 Reserve raised to $10,000 2/1/2015 Claim settled and paid for $5,000 1/15/2016 Accident # 2 Date of accident 4/1/2013 Claim reported to insurance company 6/1/2013 Original reserve of $1,000 established 8/1/2013 Claim payment of $1,000 2/1/2014 Accident #3 Date of accident 1/1/2014 Claims reported to insurance company 6/1/2014 Original reserve of $3,000 established 9/1/2014 Reserve raised to $4000 2/1/2015 Claim still outstanding as of 3/31/2016 Compute the incurred losses for the following: a) Accident year 2013 (as of 39 months) b) Accident year 2014 (as of 27 months) c) Calendar year 2014 d) Calendar year 2015