A
avnish
Member
Hi everyone
For the Advanced effort ‐ adjustment for under‐representation of longer delays. There are 10 columns in the answer. I understand the first 7 columns.
Getting to column 8, earned premium by month- Month 1 would be December while Month 12 would be January right?
Column 9, reading across, how could month 12, i.e. January have 76% of IBNR? How could month 5, being August I presume have no IBNR?
For January, business is written on 1 Jan, earned evenly through the year. These are annual policies as assumed by the examiners.
Can anyone help
Thanks
Avnish
For the Advanced effort ‐ adjustment for under‐representation of longer delays. There are 10 columns in the answer. I understand the first 7 columns.
Getting to column 8, earned premium by month- Month 1 would be December while Month 12 would be January right?
Column 9, reading across, how could month 12, i.e. January have 76% of IBNR? How could month 5, being August I presume have no IBNR?
For January, business is written on 1 Jan, earned evenly through the year. These are annual policies as assumed by the examiners.
Can anyone help
Thanks
Avnish